Synchrony Financial (NYSE:SYF) Price Target Increased to $65.00 by Analysts at Jefferies Financial Group

Synchrony Financial (NYSE:SYF) had its target price boosted by Jefferies Financial Group from $60.00 to $65.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Compass Point upped their target price on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI reduced their price objective on Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. 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 report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Finally, Robert W. Baird initiated coverage on shares of Synchrony Financial in a report on Friday, June 28th. They set an “outperform” rating and a $56.00 price target on the stock. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and an average target price of $55.95.

Synchrony Financial Stock Up 0.3 %

SYF stock opened at $56.70 on Thursday. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $57.26. The business has a 50-day simple moving average of $49.23 and a 200 day simple moving average of $46.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. The company has a market cap of $22.41 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61.

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

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.89%.

Insider Activity

In related news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $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. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Quent Capital LLC increased its holdings in Synchrony Financial by 15.4% in the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 214 shares in the last quarter. Wedmont Private Capital grew its position in shares of Synchrony Financial by 3.3% during the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after buying an additional 242 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Synchrony Financial by 0.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock valued at $2,465,000 after acquiring an additional 251 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in shares of Synchrony Financial by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock valued at $1,518,000 after acquiring an additional 262 shares during the period. Finally, Certuity LLC boosted its stake in Synchrony Financial by 0.8% during the second quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after acquiring an additional 264 shares in the last quarter. Institutional investors 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.