BMO Capital Markets reiterated their buy rating on shares of Synchrony Financial (NYSE:SYF) in a research report report published on Friday, August 25th. They currently have a $40.00 price objective on the financial services provider’s stock.
A number of other research firms also recently weighed in on SYF. Barclays PLC increased their price target on Synchrony Financial from $36.00 to $47.00 and gave the company an overweight rating in a research note on Monday, May 1st. BTIG Research cut their price target on Synchrony Financial from $42.00 to $36.00 and set a buy rating on the stock in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) cut shares of Synchrony Financial from a conviction-buy rating to a neutral rating and lowered their price objective for the company from $44.00 to $33.00 in a research report on Friday, April 28th. Stephens cut Synchrony Financial from an overweight rating to an equal weight rating and lowered their target price for the stock from $44.00 to $29.00 in a report on Monday, May 1st. Finally, Deutsche Bank AG lowered their target price on Synchrony Financial from $47.00 to $35.00 and set a hold rating for the company in a report on Monday, May 1st. Ten equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $37.42.
Shares of Synchrony Financial (NYSE SYF) traded up 2.10% on Friday, reaching $29.15. The company had a trading volume of 6,050,435 shares. The stock has a 50 day moving average price of $30.18 and a 200-day moving average price of $30.80. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The company has a market capitalization of $23.18 billion, a price-to-earnings ratio of 10.95 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the business earned $0.58 EPS. Analysts forecast that Synchrony Financial will post $2.60 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 7th were issued a $0.15 dividend. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.60 annualized dividend and a yield of 2.06%. Synchrony Financial’s payout ratio is presently 22.64%.
Synchrony Financial declared that its board has initiated a stock repurchase plan on Thursday, May 18th that permits the company to repurchase $1.64 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Paget Leonard Alves acquired 2,000 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were purchased at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the completion of the acquisition, the director now owns 8,521 shares of the company’s stock, valued at $262,872.85. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its position in Synchrony Financial by 41.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,280 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 965 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Synchrony Financial by 32.1% in the second quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 867 shares during the last quarter. First Quadrant L P CA boosted its stake in Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 1,328 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Synchrony Financial in the first quarter valued at about $152,000. Finally, Coconut Grove Bank boosted its stake in Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 2,170 shares during the last quarter. 87.18% of the stock is owned by 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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