Synchrony Financial (NYSE:SYF) Sees Significant Growth in Short Interest

Synchrony Financial (NYSE:SYF) was the recipient of a significant growth in short interest during the month of 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. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 3,800,000 shares, the days-to-cover ratio is presently 3.8 days.

Synchrony Financial Price Performance

NYSE:SYF traded up $0.15 during mid-day trading on Thursday, reaching $54.67. 662,728 shares of the stock were exchanged, compared to its average volume of 3,644,415. The business has a fifty day moving average price of $62.85 and a 200 day moving average price of $60.22. The firm has a market capitalization of $21.25 billion, a PE ratio of 6.40, a PEG ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 1-year low of $39.67 and a 1-year high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. Synchrony Financial’s dividend payout ratio (DPR) is 11.71%.

Analysts Set New Price Targets

Several equities analysts recently commented on SYF shares. The Goldman Sachs Group dropped their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday. UBS Group upped their price target on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Truist Financial upped their price target on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Finally, Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.70.

Institutional Investors Weigh In On Synchrony Financial

A number of institutional investors have recently bought and sold shares of SYF. OneDigital Investment Advisors LLC lifted its holdings in shares of Synchrony Financial by 17.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,431 shares of the financial services provider’s stock valued at $271,000 after buying an additional 817 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Synchrony Financial by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 67,772 shares of the financial services provider’s stock valued at $3,380,000 after acquiring an additional 3,501 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Synchrony Financial by 7.2% in the 3rd quarter. Natixis Advisors LLC now owns 184,577 shares of the financial services provider’s stock valued at $9,207,000 after acquiring an additional 12,336 shares in the last quarter. Quest Partners LLC raised its stake in shares of Synchrony Financial by 32.6% in the 3rd quarter. Quest Partners LLC now owns 33,040 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 8,115 shares in the last quarter. Finally, Pathstone Holdings LLC raised its stake in shares of Synchrony Financial by 1.3% in the 3rd quarter. Pathstone Holdings LLC now owns 37,785 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 493 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

About Synchrony Financial

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.