BMO Capital Markets reiterated their buy rating on shares of Synchrony Financial (NYSE:SYF) in a report released on Friday, August 25th. They currently have a $40.00 target price on the financial services provider’s stock.
Several other research analysts have also commented on the stock. Barclays PLC raised their price target on shares of Synchrony Financial from $36.00 to $47.00 and gave the company an overweight rating in a report on Monday, May 1st. BTIG Research cut their price target on shares of Synchrony Financial from $42.00 to $36.00 and set a buy rating on the stock in a report on Monday, May 1st. Goldman Sachs Group, Inc. (The) lowered shares of Synchrony Financial from a conviction-buy rating to a neutral rating and cut their price target for the company from $44.00 to $33.00 in a report on Friday, April 28th. Stephens downgraded shares of Synchrony Financial from an overweight rating to an equal weight rating and lowered their price objective for the company from $44.00 to $29.00 in a research report on Monday, May 1st. Finally, Deutsche Bank AG lowered their price objective on shares of Synchrony Financial from $47.00 to $35.00 and set a hold rating for the company in a research report on Monday, May 1st. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $37.42.
Shares of Synchrony Financial (SYF) traded up 0.14% on Friday, hitting $29.19. 5,179,802 shares of the company were exchanged. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The company has a 50-day moving average price of $30.15 and a 200 day moving average price of $30.79. The firm has a market cap of $23.22 billion, a P/E ratio of 10.96 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a net margin of 13.84% and a return on equity of 15.30%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the firm posted $0.58 earnings per share. Analysts predict that Synchrony Financial will post $2.60 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 7th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, August 3rd. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.13. Synchrony Financial’s payout ratio is currently 22.64%.
Synchrony Financial declared that its board has approved a share repurchase program on Thursday, May 18th that allows the company to repurchase $1.64 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Synchrony Financial news, Director Paget Leonard Alves acquired 2,000 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was purchased at an average price of $30.85 per share, with a total value of $61,700.00. Following the completion of the acquisition, the director now directly owns 8,521 shares in the company, valued at approximately $262,872.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its holdings in Synchrony Financial by 6.2% in the first quarter. Wells Fargo & Company MN now owns 6,245,162 shares of the financial services provider’s stock worth $214,209,000 after purchasing an additional 363,874 shares during the period. Creative Planning boosted its holdings in Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 240 shares during the period. Global X Management Co. LLC boosted its holdings in Synchrony Financial by 28.8% in the first quarter. Global X Management Co. LLC now owns 6,226 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 1,394 shares during the period. Cambria Investment Management L.P. acquired a new position in Synchrony Financial in the first quarter worth $1,194,000. Finally, AT Bancorp boosted its holdings in Synchrony Financial by 9.8% in the first quarter. AT Bancorp now owns 142,538 shares of the financial services provider’s stock worth $4,889,000 after purchasing an additional 12,726 shares during the period. 87.18% of the stock is owned by hedge funds and other institutional investors.
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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