Robert W. Baird Begins Coverage on Synchrony Financial (NYSE:SYF)

Robert W. Baird began coverage on shares of Synchrony Financial (NYSE:SYF) in a report issued on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $56.00 price target on the financial services provider’s stock.

A number of other analysts also recently commented on SYF. TD Cowen boosted their price target on shares of Synchrony Financial from $49.00 to $51.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their target price on Synchrony Financial from $38.00 to $45.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. BMO Capital Markets lifted their price target on Synchrony Financial from $40.00 to $41.00 and gave the company a market perform rating in a research report on Thursday, April 25th. Morgan Stanley restated an underweight rating and issued a $30.00 price objective on shares of Synchrony Financial in a report on Wednesday, June 12th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Synchrony Financial in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $45.10.

Synchrony Financial Stock Up 6.7 %

SYF opened at $47.19 on Friday. The stock’s 50 day moving average price is $44.11 and its 200 day moving average price is $41.30. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. The stock has a market cap of $18.95 billion, a P/E ratio of 6.77, a P/E/G ratio of 1.10 and a beta of 1.60. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $47.24.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the company posted $1.35 EPS. As a group, research analysts predict that Synchrony Financial will post 5.71 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Synchrony Financial’s dividend payout ratio is 14.35%.

Synchrony Financial declared that its Board of Directors has approved a share buyback plan on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 31,562 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the transaction, the insider now directly owns 121,042 shares in the company, valued at approximately $5,446,890. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its stake in Synchrony Financial by 62.1% in the first quarter. Los Angeles Capital Management LLC now owns 302,337 shares of the financial services provider’s stock valued at $13,037,000 after acquiring an additional 115,790 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Synchrony Financial by 45.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,458 shares of the financial services provider’s stock worth $4,142,000 after purchasing an additional 33,867 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Synchrony Financial by 6.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 699,558 shares of the financial services provider’s stock worth $26,716,000 after buying an additional 41,455 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Synchrony Financial by 58.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 280,952 shares of the financial services provider’s stock valued at $10,646,000 after buying an additional 103,222 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of Synchrony Financial in the fourth quarter worth about $2,592,000. Institutional investors own 96.48% of the company’s stock.

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.