Synchrony Financial (NYSE:SYF) PT Raised to $62.00

Synchrony Financial (NYSE:SYF) had its price target boosted by TD Cowen from $60.00 to $62.00 in a research note released on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on SYF. Evercore ISI dropped their price objective on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Morgan Stanley increased their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Friday, August 9th. Compass Point increased their price objective on shares of Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. One investment 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.95.

Synchrony Financial Trading Up 0.3 %

Synchrony Financial stock opened at $56.70 on Thursday. The firm’s 50-day moving average is $49.23 and its 200-day moving average is $46.50. 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 has a 1 year low of $27.30 and a 1 year high of $57.26. The company has a market cap of $22.41 billion, a P/E ratio of 7.88, a PEG ratio of 1.26 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company earned $1.48 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts expect that Synchrony Financial will post 5.81 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. Synchrony Financial’s dividend payout ratio is currently 13.89%.

Insider Transactions at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial 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 transaction, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares in the company, valued at $2,510,987.60. 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 through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’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 disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SYF. Boston Partners boosted its holdings in shares of Synchrony Financial by 66.6% in the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after buying an additional 2,548,180 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Synchrony Financial by 402.8% during the second quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider’s stock worth $71,739,000 after purchasing an additional 1,217,872 shares during the period. AQR Capital Management LLC boosted its holdings in shares of 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 during the period. Nordea Investment Management AB boosted its holdings in shares of Synchrony Financial by 33.5% during the first 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. Finally, Acadian Asset Management LLC boosted its holdings in shares of Synchrony Financial by 400.2% during the second quarter. Acadian Asset Management LLC now owns 842,539 shares of the financial services provider’s stock worth $39,751,000 after purchasing an additional 674,093 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.