Synchrony Financial (NYSE:SYF) Given New $62.00 Price Target at Royal Bank of Canada

Synchrony Financial (NYSE:SYF) had its target price raised by Royal Bank of Canada from $55.00 to $62.00 in a report released on Thursday morning, MarketBeat.com reports. They currently have a sector perform rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Compass Point boosted their price target on shares of Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, August 9th. Finally, Robert W. Baird started coverage on shares of Synchrony Financial in a report on Friday, June 28th. They set an “outperform” rating and a $56.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.25.

Synchrony Financial Trading Down 0.5 %

Shares of SYF stock opened at $56.42 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $22.30 billion, a P/E ratio of 7.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company has a 50 day moving average price of $49.43 and a 200 day moving average price of $46.64. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $57.26.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 earnings per share. Equities research analysts predict that Synchrony Financial will post 5.81 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.77%. Synchrony Financial’s dividend payout ratio (DPR) is 13.89%.

Insider Activity at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction on 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 owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The sale 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 company’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

A number of large investors have recently bought and sold shares of the company. Swedbank AB grew its stake in shares of Synchrony Financial by 23.8% during the 2nd quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock worth $4,694,000 after purchasing an additional 19,098 shares during the period. Cetera Investment Advisers acquired a new position in shares of Synchrony Financial during the 1st quarter worth $2,192,000. Nordea Investment Management AB grew its stake in shares of Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after purchasing an additional 674,366 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Synchrony Financial by 98.6% during the 1st quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock worth $1,029,000 after purchasing an additional 11,846 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Synchrony Financial by 52.6% during the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock worth $21,134,000 after purchasing an additional 168,920 shares during the period. Hedge funds and other 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.