Synchrony Financial (NYSE:SYF) Shares Down 7.1%

Synchrony Financial (NYSE:SYF) dropped 7.1% during trading on Tuesday . The company traded as low as $44.47 and last traded at $44.73. Approximately 950,365 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 4,024,556 shares. The stock had previously closed at $48.17.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SYF shares. 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 on the stock. BTIG Research assumed coverage on Synchrony Financial in a report on Friday, June 7th. They set a “buy” rating and a $60.00 price objective on the stock. Barclays upped their price target on Synchrony Financial from $46.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. JMP Securities raised their price objective on shares of Synchrony Financial from $49.00 to $60.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 16th. Finally, The Goldman Sachs Group boosted their target price on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and an average price target of $50.41.

Synchrony Financial Stock Performance

The stock’s 50 day moving average is $48.37 and its two-hundred day moving average is $44.90. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 1.11 and a beta of 1.62. 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 quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping 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 return on equity of 16.06% and a net margin of 13.52%. During the same period last year, the company earned $1.32 EPS. Analysts anticipate that Synchrony Financial will post 5.79 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. Investors of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Activity at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 completion of the transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bart Schaller sold 930 shares of the company’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 approximately $2,510,987.60. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in Synchrony Financial in the 1st quarter valued at approximately $28,000. Altshuler Shaham Ltd bought a new stake in Synchrony Financial during the 2nd quarter valued at $31,000. International Assets Investment Management LLC acquired a new stake in shares of Synchrony Financial in the 2nd quarter worth about $33,000. WR Wealth Planners LLC boosted its holdings in Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Synchrony Financial during the second quarter worth about $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.