Synchrony Financial (NYSE:SYF) Downgraded by BTIG Research to “Neutral”

BTIG Research cut shares of Synchrony Financial (NYSE:SYF) from a buy rating to a neutral rating in a research note published on Monday morning, MarketBeat reports.

Other analysts also recently issued reports about the company. Barclays lifted their price target on Synchrony Financial from $46.00 to $49.00 and gave the stock an equal weight rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $62.00 price target on shares of Synchrony Financial in a report on Tuesday, June 11th. BMO Capital Markets cut their price objective on shares of Synchrony Financial from $42.00 to $41.00 and set a market perform rating on the stock in a report on Thursday, July 18th. The Goldman Sachs Group boosted their price objective on shares of Synchrony Financial from $49.00 to $56.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Finally, Robert W. Baird began coverage on shares of Synchrony Financial in a research report on Friday, June 28th. They issued an outperform rating and a $56.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Synchrony Financial currently has a consensus rating of Moderate Buy and an average price target of $50.41.

Synchrony Financial Stock Up 0.4 %

SYF stock opened at $47.33 on Monday. The company’s 50 day moving average price is $48.28 and its 200 day moving average price is $45.11. The firm has a market capitalization of $19.01 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 1.09 and a beta of 1.62. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $52.67. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. During the same period in the prior year, the firm posted $1.32 EPS. On average, equities research analysts anticipate that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.11%. Synchrony Financial’s payout ratio is currently 14.35%.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares in the company, valued at approximately $2,510,987.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several hedge funds have recently modified their holdings of the company. Swedbank AB raised its position in shares of Synchrony Financial by 23.8% in the second quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock valued at $4,694,000 after buying an additional 19,098 shares during the last quarter. Cetera Investment Advisers acquired a new position in Synchrony Financial in the 1st quarter valued at $2,192,000. Nordea Investment Management AB lifted its stake in shares of Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after purchasing an additional 674,366 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Synchrony Financial by 98.6% during the first quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock worth $1,029,000 after purchasing an additional 11,846 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Synchrony Financial by 52.6% in the first quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock valued at $21,134,000 after purchasing an additional 168,920 shares during the period. 96.48% of the stock is 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.