Synchrony Financial (NYSE:SYF) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage currently has a $41.65 target price on the stock. Vetr‘s price objective points to a potential upside of 16.44% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Bank of America Corporation upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $40.50 price target on the stock in a research report on Thursday, December 15th. Zacks Investment Research lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Barclays PLC set a $47.00 price target on shares of Synchrony Financial and gave the company a “buy” rating in a research report on Sunday, January 8th. Wedbush restated a “neutral” rating and set a $37.00 price target (up previously from $32.00) on shares of Synchrony Financial in a research report on Thursday, December 1st. Finally, Stephens assumed coverage on shares of Synchrony Financial in a research report on Friday, November 18th. They set an “overweight” rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Synchrony Financial has a consensus rating of “Buy” and an average price target of $42.70.
Shares of Synchrony Financial (NYSE:SYF) traded down 0.78% during midday trading on Wednesday, hitting $35.77. 4,228,879 shares of the stock were exchanged. The firm’s 50-day moving average is $36.39 and its 200-day moving average is $31.18. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $38.06. The stock has a market cap of $29.24 billion, a price-to-earnings ratio of 13.20 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, January 20th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Synchrony Financial had a net margin of 15.15% and a return on equity of 16.34%. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Equities research analysts predict that Synchrony Financial will post $3.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 16th. Stockholders of record on Monday, February 6th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is 19.19%.
In other news, insider Margaret M. Keane sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $34.00, for a total value of $204,000.00. Following the sale, the insider now directly owns 367,206 shares of the company’s stock, valued at approximately $12,485,004. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David P. Melito sold 1,392 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $38.00, for a total transaction of $52,896.00. Following the completion of the sale, the insider now directly owns 42,255 shares in the company, valued at $1,605,690. The disclosure for this sale can be found here. Insiders sold a total of 9,551 shares of company stock worth $329,309 over the last three months. Insiders own 0.02% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Asset Management Company LTD increased its stake in Synchrony Financial by 1.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 63,869 shares of the company’s stock worth $1,614,000 after buying an additional 976 shares during the period. Herndon Capital Management LLC boosted its position in shares of Synchrony Financial by 81.9% in the second quarter. Herndon Capital Management LLC now owns 2,483,013 shares of the company’s stock worth $62,769,000 after buying an additional 1,118,108 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of Synchrony Financial by 23.3% in the second quarter. Tocqueville Asset Management L.P. now owns 271,376 shares of the company’s stock worth $6,860,000 after buying an additional 51,202 shares during the period. Bbva Compass Bancshares Inc. acquired a new position in shares of Synchrony Financial during the second quarter worth $561,000. Finally, Hanson & Doremus Investment Management acquired a new position in shares of Synchrony Financial during the second quarter worth $319,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.