Synchrony Financial (NYSE:SYF) Price Target Raised to $65.00

Synchrony Financial (NYSE:SYF) had its target price lifted by Evercore ISI from $58.00 to $65.00 in a research note published on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

SYF has been the topic of several other research reports. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, August 9th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price target on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. Finally, Barclays upped their target price on Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and an average target price of $56.60.

Synchrony Financial Trading Up 0.2 %

Shares of Synchrony Financial stock opened at $55.25 on Wednesday. The firm’s 50 day simple moving average is $51.19 and its two-hundred day simple moving average is $47.59. The firm has a market capitalization of $21.51 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 1.09 and a beta of 1.59. Synchrony Financial has a 12-month low of $28.24 and a 12-month high of $57.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. Analysts predict that Synchrony Financial will post 6.28 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Monday, November 4th. Synchrony Financial’s dividend payout ratio is presently 13.05%.

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.