Synchrony Financial (NYSE:SYF) Price Target Raised to $60.00

Synchrony Financial (NYSE:SYF) had its target price hoisted by Compass Point from $56.00 to $60.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. BTIG Research downgraded Synchrony Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group lifted their price target on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Evercore ISI lowered their price objective on Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Jefferies Financial Group raised their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Robert W. Baird initiated coverage on shares of Synchrony Financial in a report on Friday, June 28th. They set an “outperform” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

Synchrony Financial Trading Up 6.1 %

Shares of Synchrony Financial stock opened at $56.53 on Wednesday. The firm’s 50 day moving average is $49.02 and its 200 day moving average is $46.43. The firm has a market capitalization of $22.34 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $56.59. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. During the same quarter last year, the business posted $1.32 earnings per share. Equities research analysts forecast that Synchrony Financial will post 5.81 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. Synchrony Financial’s dividend payout ratio is currently 13.89%.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Synchrony Financial in the first quarter valued at approximately $28,000. Altshuler Shaham Ltd bought a new position in Synchrony Financial in the 2nd quarter valued at $31,000. International Assets Investment Management LLC bought a new position in Synchrony Financial in the 2nd quarter valued at $33,000. WR Wealth Planners LLC increased its position in shares of Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Synchrony Financial during the 2nd quarter worth $39,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Company Profile

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.