Shares of Synchrony Financial (NYSE:SYF – Get Free Report) have earned a consensus rating of “Hold” from the fifteen research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $37.00.
A number of equities analysts recently commented on the stock. Oppenheimer cut shares of Synchrony Financial from an “outperform” rating to a “market perform” rating in a research report on Friday, July 14th. Morgan Stanley reissued an “underweight” rating and issued a $29.00 price target (up from $28.00) on shares of Synchrony Financial in a research report on Wednesday, July 19th. Citigroup lowered their price objective on Synchrony Financial from $44.00 to $43.00 in a research report on Friday, June 2nd. Royal Bank of Canada downgraded shares of Synchrony Financial from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $41.00 to $37.00 in a report on Tuesday, September 5th. Finally, Bank of America lifted their target price on Synchrony Financial from $37.00 to $38.00 in a research report on Monday, June 12th.
Insider Transactions at Synchrony Financial
In other Synchrony Financial news, insider Brian D. Doubles sold 36,610 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.50, for a total transaction of $1,263,045.00. Following the sale, the insider now directly owns 565,240 shares in the company, valued at approximately $19,500,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brian D. Doubles sold 36,610 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.50, for a total value of $1,263,045.00. Following the sale, the insider now owns 565,240 shares of the company’s stock, valued at approximately $19,500,780. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David P. Melito sold 15,015 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $35.00, for a total transaction of $525,525.00. Following the completion of the transaction, the insider now owns 13,960 shares in the company, valued at $488,600. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Hedge Funds Weigh In On Synchrony Financial
A number of hedge funds have recently made changes to their positions in the business. Delphia USA Inc. raised its stake in Synchrony Financial by 3.1% during the fourth quarter. Delphia USA Inc. now owns 9,578 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 287 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Synchrony Financial by 8.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,673 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 301 shares during the period. Legacy Capital Group California Inc. grew its position in shares of Synchrony Financial by 2.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 11,593 shares of the financial services provider’s stock worth $393,000 after buying an additional 320 shares during the period. Deseret Mutual Benefit Administrators grew its position in shares of Synchrony Financial by 3.5% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 10,116 shares of the financial services provider’s stock worth $343,000 after buying an additional 339 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in Synchrony Financial by 2.3% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,310 shares of the financial services provider’s stock valued at $423,000 after buying an additional 351 shares in the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.
Synchrony Financial Price Performance
Shares of NYSE:SYF opened at $32.16 on Thursday. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $40.88. The stock’s fifty day simple moving average is $33.46 and its two-hundred day simple moving average is $31.71. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.13. The stock has a market cap of $13.45 billion, a PE ratio of 5.96, a price-to-earnings-growth ratio of 1.43 and a beta of 1.60.
Synchrony Financial (NYSE:SYF – Get Free Report) last posted its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Synchrony Financial had a net margin of 12.90% and a return on equity of 19.79%. During the same quarter in the previous year, the firm posted $1.60 EPS. As a group, analysts forecast that Synchrony Financial will post 5.06 EPS for the current fiscal year.
Synchrony Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Monday, July 31st were paid a $0.25 dividend. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, July 28th. Synchrony Financial’s dividend payout ratio is currently 18.52%.
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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.