Synchrony Financial (NYSE:SYF) PT Raised to $59.00

Synchrony Financial (NYSE:SYF) had its price objective upped by Barclays from $49.00 to $59.00 in a research note released on Thursday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, August 9th. Jefferies Financial Group increased their price objective on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday. BMO Capital Markets decreased their price target on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and an average target price of $56.25.

Synchrony Financial Trading Down 0.5 %

SYF stock opened at $56.42 on Thursday. Synchrony Financial has a one year low of $27.30 and a one year high of $57.26. The stock has a market cap of $22.66 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company has a fifty day moving average price of $49.43 and a two-hundred day moving average price of $46.68. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. Synchrony Financial’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 EPS. Equities analysts anticipate that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bart Schaller sold 930 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Synchrony Financial by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock worth $315,381,000 after purchasing an additional 313,128 shares during the last quarter. Boston Partners grew its holdings in Synchrony Financial by 66.6% during the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after acquiring an additional 2,548,180 shares during the last quarter. AQR Capital Management LLC grew its holdings in Synchrony Financial by 14.6% during the 2nd quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after acquiring an additional 727,649 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Synchrony Financial by 2.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,496,009 shares of the financial services provider’s stock valued at $150,748,000 after acquiring an additional 97,235 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Synchrony Financial by 18.7% during the second quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider’s stock valued at $147,599,000 after acquiring an additional 492,312 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

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.