Hsbc Holdings PLC Trims Position in Synchrony Financial (NYSE:SYF)

by · The Markets Daily

Hsbc Holdings PLC lowered its stake in shares of Synchrony Financial (NYSE:SYF – Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,052,160 shares of the financial services provider’s stock after selling 37,784 shares during the quarter. Hsbc Holdings PLC owned about 0.78% of Synchrony Financial worth $198,445,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC acquired a new position in Synchrony Financial during the 4th quarter worth approximately $26,000. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial during the 4th quarter worth $27,000. Y.D. More Investments Ltd grew its stake in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 253 shares during the period. Raleigh Capital Management Inc. increased its holdings in shares of Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 486 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 257 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Up 2.5 %

Shares of SYF opened at $48.42 on Wednesday. The firm has a market cap of $18.82 billion, a PE ratio of 5.67, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The company’s fifty day moving average is $53.61 and its two-hundred day moving average is $60.30. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93.

Synchrony Financial (NYSE:SYF – Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.23. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SYF shares. Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a report on Tuesday, January 28th. Royal Bank of Canada lifted their price objective on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. The Goldman Sachs Group lowered their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Bank of America boosted their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their target price on shares of Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average price target of $65.11.

Check Out Our Latest Stock Analysis on SYF

Synchrony Financial Company Profile

(Free Report)

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.

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