Synchrony Financial (NYSE:SYF) Cut to Neutral at BTIG Research

BTIG Research downgraded shares of Synchrony Financial (NYSE:SYF) from a buy rating to a neutral rating in a research report sent to investors on Monday, Marketbeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Compass Point started coverage on shares of Synchrony Financial in a research note on Tuesday, July 16th. They set a buy rating and a $56.00 price objective for the company. StockNews.com upgraded shares of Synchrony Financial from a hold rating to a buy rating in a research note on Friday, July 12th. Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a sector perform rating in a research report on Thursday, July 18th. The Goldman Sachs Group boosted their target price on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a buy rating in a research report on Thursday, July 18th. Finally, Robert W. Baird started coverage on shares of Synchrony Financial in a research report on Friday, June 28th. They set an outperform rating and a $56.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $50.41.

Synchrony Financial Price Performance

Shares of SYF opened at $51.04 on Monday. The company has a market cap of $20.17 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $52.67. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $48.35 and a two-hundred day moving average of $45.24.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. As a group, analysts predict that Synchrony Financial will post 5.79 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.96%. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Transactions at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s 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 completion of the sale, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s 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 completion of the sale, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

A number of institutional investors and hedge funds have recently bought and sold shares of SYF. Principal Securities Inc. acquired a new position in Synchrony Financial during the fourth quarter worth about $60,000. Massachusetts Financial Services Co. MA boosted its holdings in Synchrony Financial by 19.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 29,688 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 4,877 shares during the last quarter. Independent Advisor Alliance acquired a new position in Synchrony Financial in the 4th quarter valued at about $245,000. Norges Bank acquired a new position in Synchrony Financial in the 4th quarter valued at about $182,739,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Synchrony Financial by 21.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 58,603 shares of the financial services provider’s stock valued at $2,238,000 after purchasing an additional 10,242 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.