Synchrony Financial (NYSE:SYF) had its price target lifted by JMP Securities from $33.00 to $37.00 in a report issued on Tuesday. They currently have a market outperform rating on the stock.
Other analysts also recently issued research reports about the company. BTIG Research set a $42.00 price objective on Synchrony Financial and gave the stock a buy rating in a research report on Sunday, October 23rd. Deutsche Bank AG reiterated a buy rating and issued a $31.50 price objective on shares of Synchrony Financial in a research report on Thursday, August 18th. TheStreet upgraded Synchrony Financial from a hold rating to a buy rating in a research report on Monday, November 7th. Stephens assumed coverage on Synchrony Financial in a research report on Friday, November 18th. They issued an overweight rating and a $40.00 price objective for the company. Finally, Bank of America Corp. reiterated a neutral rating and issued a $30.00 price objective (up previously from $28.00) on shares of Synchrony Financial in a research report on Tuesday, July 26th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Synchrony Financial has an average rating of Buy and a consensus target price of $39.83.
Synchrony Financial (NYSE:SYF) opened at 34.96 on Tuesday. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $35.02. The firm has a market cap of $28.86 billion, a price-to-earnings ratio of 13.14 and a beta of 0.89. The firm’s 50-day moving average price is $29.37 and its 200-day moving average price is $28.30.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, October 21st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. Synchrony Financial had a return on equity of 16.61% and a net margin of 15.40%. During the same quarter in the prior year, the business posted $0.69 earnings per share. Equities research analysts predict that Synchrony Financial will post $2.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Monday, November 7th were given a $0.13 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. Synchrony Financial’s dividend payout ratio is currently 19.55%.
In other news, insider David P. Melito sold 2,159 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $33.54, for a total value of $72,412.86. Following the transaction, the insider now directly owns 40,863 shares in the company, valued at approximately $1,370,545.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Margaret M. Keane sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the transaction, the insider now owns 361,206 shares in the company, valued at $10,836,180. The disclosure for this sale can be found here. 0.02% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. D Orazio & Associates Inc. raised its position in Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock valued at $106,000 after buying an additional 1,800 shares in the last quarter. NEXT Financial Group Inc raised its position in Synchrony Financial by 2.6% in the third quarter. NEXT Financial Group Inc now owns 4,019 shares of the company’s stock valued at $113,000 after buying an additional 103 shares in the last quarter. Societe Generale bought a new position in Synchrony Financial during the second quarter valued at about $118,000. Commonwealth Bank of Australia raised its position in Synchrony Financial by 50.2% in the third quarter. Commonwealth Bank of Australia now owns 4,562 shares of the company’s stock valued at $128,000 after buying an additional 1,525 shares in the last quarter. Finally, Daiwa SB Investments Ltd. raised its position in Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock valued at $130,000 after buying an additional 410 shares in the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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