Synchrony Financial (NYSE:SYF) Receives $64.98 Average Price Target from Analysts

Synchrony Financial (NYSE:SYF) has received an average recommendation of “Moderate Buy” from the twenty-three analysts that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $65.43.

Several research analysts have commented on the stock. BTIG Research lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Jefferies Financial Group lifted their target price on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Finally, TD Cowen raised their price objective on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 17th.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $63.77 on Wednesday. Synchrony Financial has a 52-week low of $35.29 and a 52-week high of $69.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm’s fifty day moving average is $65.72 and its 200 day moving average is $55.23. The company has a market cap of $24.83 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.82 and a beta of 1.64.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business posted $1.48 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts forecast that Synchrony Financial will post 6.51 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.57%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio is presently 13.05%.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This trade represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

Hedge funds have recently modified their holdings of the company. Graypoint LLC raised its position in Synchrony Financial by 4.0% during the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 181 shares during the period. Empirical Finance LLC increased its holdings in shares of Synchrony Financial by 1.3% in the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 204 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Synchrony Financial by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider’s stock valued at $1,314,000 after buying an additional 213 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Synchrony Financial by 3.3% in the third quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 242 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in shares of Synchrony Financial by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after buying an additional 251 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

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.