Trade Report: Today, Vetr Inc. Downgrade Synchrony Financial (SYF) to Hold

Today, Vetr Inc. Downgrade Synchrony Financial (SYF) to Hold

Synchrony Financial (NYSE:SYF) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Thursday. They currently have a $36.22 price objective on the stock. Vetr‘s target price would indicate a potential upside of 3.60% from the company’s previous close.

SYF has been the subject of a number of other research reports. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday. Wedbush began coverage on Synchrony Financial in a research report on Monday, October 10th. They set an “outperform” rating and a $31.00 price objective for the company. Deutsche Bank AG reiterated a “buy” rating and set a $31.50 price objective on shares of Synchrony Financial in a research report on Thursday, August 18th. Compass Point began coverage on Synchrony Financial in a research report on Friday, November 4th. They set a “buy” rating and a $34.00 price objective for the company. Finally, 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. 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 an average price target of $39.83.

Shares of Synchrony Financial (NYSE:SYF) traded up 2.91% during mid-day trading on Thursday, hitting $34.96. 11,404,334 shares of the stock traded hands. The stock has a 50 day moving average price of $29.37 and a 200-day moving average price of $28.30. The company has a market cap of $28.86 billion, a P/E ratio of 13.14 and a beta of 0.89. Synchrony Financial has a one year low of $23.25 and a one year high of $35.02.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 21st. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned $0.69 earnings per share. On average, analysts forecast that Synchrony Financial will post $2.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Monday, November 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. Synchrony Financial’s dividend payout ratio (DPR) is presently 19.55%.

In other news, insider David P. Melito sold 2,159 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $33.54, for a total value of $72,412.86. Following the completion of the transaction, the insider now directly owns 40,863 shares in the company, valued at $1,370,545.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Margaret M. Keane sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the transaction, the insider now owns 361,206 shares of the company’s stock, valued at $10,836,180. The disclosure for this sale can be found here. 0.02% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. D Orazio & Associates Inc. increased 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 worth $106,000 after buying an additional 1,800 shares during the period. NEXT Financial Group Inc increased 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 worth $113,000 after buying an additional 103 shares during the period. Societe Generale bought a new position in Synchrony Financial during the second quarter worth approximately $118,000. Commonwealth Bank of Australia increased 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 worth $128,000 after buying an additional 1,525 shares during the period. Finally, Daiwa SB Investments Ltd. increased 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 worth $130,000 after buying an additional 410 shares during the period. Institutional investors and hedge funds own 88.24% of the company’s stock.

Synchrony Financial Company Profile

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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