Bogart Wealth LLC Invests $26,000 in Synchrony Financial (NYSE:SYF)

Bogart Wealth LLC bought a new position in shares of Synchrony Financial (NYSE:SYF) during the fourth quarter, Holdings Channel.com reports. The firm bought 400 shares of the financial services provider’s stock, valued at approximately $26,000.

A number of other large investors also recently modified their holdings of SYF. Larson Financial Group LLC lifted its position in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after buying an additional 253 shares during the last quarter. Quarry LP raised its stake in shares of Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after buying an additional 675 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Synchrony Financial during the third quarter worth approximately $50,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Synchrony Financial by 151.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after buying an additional 486 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Finally, Truist Financial upped their target price on shares of Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Stock Performance

Shares of SYF opened at $65.19 on Friday. Synchrony Financial has a 12 month low of $39.26 and a 12 month high of $70.93. The firm has a fifty day simple moving average of $66.93 and a 200 day simple moving average of $58.49. The stock has a market capitalization of $25.38 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 0.72 and a beta of 1.63. The company has a current ratio of 1.24, a quick ratio of 1.25 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Research analysts forecast that Synchrony Financial will post 7.45 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.53%. The ex-dividend date is Monday, February 3rd. Synchrony Financial’s payout ratio is 11.71%.

Synchrony Financial Profile

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.