Synchrony Financial (NYSE:SYF) Short Interest Up 16.8% in February

Synchrony Financial (NYSE:SYF) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 14,540,000 shares, a growth of 16.8% from the February 13th total of 12,450,000 shares. Based on an average daily volume of 3,800,000 shares, the short-interest ratio is currently 3.8 days. Currently, 3.8% of the shares of the stock are short sold.

Synchrony Financial Stock Performance

NYSE:SYF opened at $53.85 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 0.71 and a beta of 1.67. The company’s 50-day moving average is $62.61 and its two-hundred day moving average is $60.17. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share 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%. Analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.86%. Synchrony Financial’s payout ratio is 11.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYF. Bank of America boosted their target price 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. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. Finally, Truist Financial boosted their target price on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Six 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.70.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC acquired a new position in shares of Synchrony Financial in the 4th quarter worth approximately $26,000. TCTC Holdings LLC acquired a new position in shares of Synchrony Financial in the 4th quarter worth approximately $27,000. Larson Financial Group LLC lifted its holdings in shares of Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 292 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 253 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new position in shares of Synchrony Financial in the 4th quarter worth approximately $38,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.