Synchrony Financial (NYSE:SYF) Coverage Initiated by Analysts at Truist Financial

Truist Financial began coverage on shares of Synchrony Financial (NYSE:SYF) in a report issued on Tuesday morning,Benzinga reports. The firm issued a hold rating and a $72.00 price objective on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the company. Royal Bank of Canada upped their price objective on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods upped their price target on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. Finally, Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and an average target price of $64.98.

Synchrony Financial Trading Down 1.5 %

Synchrony Financial stock opened at $66.64 on Tuesday. Synchrony Financial has a 12-month low of $35.29 and a 12-month high of $69.39. The firm has a market capitalization of $25.95 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 0.82 and a beta of 1.64. The firm has a 50 day moving average of $65.15 and a 200 day moving average of $54.96. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Synchrony Financial will post 6.51 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the sale, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its position in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 292 shares during the period. Altshuler Shaham Ltd purchased a new position in Synchrony Financial during the 2nd quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial during the 2nd quarter valued at $39,000. Quarry LP raised its position in Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 675 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Synchrony Financial in the 3rd quarter worth $50,000. 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.