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

Synchrony Financial (NYSE:SYF) was the recipient of a large increase in short interest in November. As of November 29th, there was short interest totalling 17,420,000 shares, an increase of 18.9% from the November 14th total of 14,650,000 shares. Currently, 2.7% of the company’s shares are short sold. Based on an average trading volume of 4,410,000 shares, the short-interest ratio is currently 4.0 days.

In other Synchrony Financial news, Director Will W. Graylin sold 7,500 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $33.71, for a total transaction of $252,825.00. Following the sale, the director now owns 76,662 shares in the company, valued at approximately $2,584,276.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYF. Capital Investment Advisory Services LLC purchased a new position in Synchrony Financial during the 2nd quarter worth approximately $30,000. OneAscent Financial Services LLC purchased a new position in Synchrony Financial during the 2nd quarter worth approximately $423,000. Crestline Management LP purchased a new position in Synchrony Financial during the 2nd quarter worth approximately $6,796,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Synchrony Financial by 12.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 95,601 shares of the financial services provider’s stock worth $3,314,000 after buying an additional 10,346 shares during the last quarter. Finally, Cibc World Markets Corp grew its stake in Synchrony Financial by 27.4% during the 2nd quarter. Cibc World Markets Corp now owns 110,208 shares of the financial services provider’s stock worth $3,821,000 after buying an additional 23,727 shares during the last quarter. Institutional investors and hedge funds own 86.82% of the company’s stock.

Shares of SYF traded up $0.55 during mid-day trading on Thursday, reaching $37.69. The company’s stock had a trading volume of 261,947 shares, compared to its average volume of 3,798,416. Synchrony Financial has a 12-month low of $21.77 and a 12-month high of $38.07. The stock has a market cap of $24.27 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.92 and a beta of 1.16. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.38 and a quick ratio of 1.26. The company’s 50 day moving average is $36.67 and its 200 day moving average is $34.74.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Synchrony Financial had a return on equity of 20.05% and a net margin of 19.54%. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the business posted $0.91 EPS. As a group, sell-side analysts anticipate that Synchrony Financial will post 4.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.33%. Synchrony Financial’s payout ratio is currently 23.53%.

Several equities research analysts have weighed in on SYF shares. Oppenheimer set a $39.00 price target on Synchrony Financial and gave the stock a “buy” rating in a report on Tuesday, October 15th. Bank of America started coverage on Synchrony Financial in a report on Monday, December 2nd. They set a “buy” rating and a $42.00 price target on the stock. Finally, Nomura restated a “neutral” rating and set a $38.00 price target (down previously from $43.00) on shares of Synchrony Financial in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $38.92.

Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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