Synchrony Financial (NYSE:SYF) Coverage Initiated by Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Synchrony Financial (NYSE:SYF) in a research report released on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $56.00 target price on the financial services provider’s stock.

A number of other research firms also recently weighed in on SYF. TD Cowen increased their target price on shares of Synchrony Financial from $49.00 to $51.00 and gave the company a buy rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $62.00 target price on shares of Synchrony Financial in a research report on Tuesday, June 11th. Evercore ISI upped their price target on Synchrony Financial from $45.00 to $47.00 and gave the company an outperform rating in a research report on Thursday, March 28th. Bank of America lifted their price objective on Synchrony Financial from $43.00 to $44.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Finally, BTIG Research initiated coverage on shares of Synchrony Financial in a report on Friday, June 7th. They set a buy rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $45.10.

Synchrony Financial Stock Up 6.7 %

SYF opened at $47.19 on Friday. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $47.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. The company’s 50-day moving average is $44.11 and its 200 day moving average is $41.23. The firm has a market capitalization of $18.95 billion, a P/E ratio of 6.77, a PEG ratio of 1.03 and a beta of 1.60.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same period in the prior year, the business earned $1.35 earnings per share. Research analysts expect that Synchrony Financial will post 5.71 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.12%. Synchrony Financial’s payout ratio is presently 14.35%.

Synchrony Financial declared that its Board of Directors has approved a share buyback program on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Curtis Howse sold 31,562 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total value of $1,420,290.00. Following the transaction, the insider now owns 121,042 shares of the company’s stock, valued at $5,446,890. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC boosted its position in Synchrony Financial by 62.1% during the first quarter. Los Angeles Capital Management LLC now owns 302,337 shares of the financial services provider’s stock valued at $13,037,000 after buying an additional 115,790 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Synchrony Financial by 45.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,458 shares of the financial services provider’s stock worth $4,142,000 after purchasing an additional 33,867 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Synchrony Financial by 6.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 699,558 shares of the financial services provider’s stock valued at $26,716,000 after purchasing an additional 41,455 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Synchrony Financial by 58.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 280,952 shares of the financial services provider’s stock worth $10,646,000 after buying an additional 103,222 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in Synchrony Financial during the 4th quarter valued at $2,592,000. 96.48% of the stock is currently owned by institutional investors.

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.