Synchrony Financial (NYSE:SYF) Short Interest Down 12.8% in March

Synchrony Financial (NYSE:SYF) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 12,680,000 shares, a drop of 12.8% from the February 28th total of 14,540,000 shares. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 4,130,000 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Investors Weigh In On Synchrony Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC bought a new position in shares of Synchrony Financial in the fourth quarter valued at about $26,000. TCTC Holdings LLC bought a new stake in shares of Synchrony Financial during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd increased its holdings in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 253 shares in the last quarter. Accredited Wealth Management LLC bought a new position in Synchrony Financial in the 4th quarter worth approximately $38,000. Finally, Quarry LP boosted its position in Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after buying an additional 675 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

SYF traded down $7.70 on Thursday, hitting $47.35. 3,116,779 shares of the stock traded hands, compared to its average volume of 3,825,541. The business has a fifty day moving average price of $60.22 and a two-hundred day moving average price of $60.67. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $18.41 billion, a PE ratio of 5.54, a P/E/G ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s payout ratio is currently 11.71%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SYF shares. Truist Financial cut their price target on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Compass Point downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Tuesday, January 28th. Wells Fargo & Company cut their price target on Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods boosted their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada boosted their price objective on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.35.

Synchrony Financial Company 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.