Synchrony Financial (NYSE:SYF) Receives $64.98 Consensus Price Target from Brokerages

Shares of Synchrony Financial (NYSE:SYF) have received a consensus rating of “Moderate Buy” from the twenty-four analysts that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $65.45.

Several brokerages have recently issued reports on SYF. UBS Group lifted their target price on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday. TD Cowen lifted their target price on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 17th. Truist Financial began coverage on Synchrony Financial in a report on Tuesday, January 7th. They issued a “hold” rating and a $72.00 target price on the stock. Finally, Morgan Stanley raised Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th.

Synchrony Financial Price Performance

NYSE:SYF opened at $66.00 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $66.10 and its two-hundred day simple moving average is $55.66. The stock has a market cap of $25.70 billion, a PE ratio of 8.62, a P/E/G ratio of 0.82 and a beta of 1.64. Synchrony Financial has a 52 week low of $35.29 and a 52 week high of $69.39.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the firm earned $1.48 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that Synchrony Financial will post 6.51 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Insider Activity

In other news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the sale, the insider now directly owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Burney Co. raised its holdings in Synchrony Financial by 536.8% during the fourth quarter. Burney Co. now owns 284,284 shares of the financial services provider’s stock worth $18,478,000 after purchasing an additional 239,643 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Synchrony Financial by 26.1% during the fourth quarter. Park Avenue Securities LLC now owns 20,179 shares of the financial services provider’s stock worth $1,312,000 after purchasing an additional 4,173 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in Synchrony Financial by 7.8% during the fourth quarter. Kathmere Capital Management LLC now owns 8,741 shares of the financial services provider’s stock worth $568,000 after purchasing an additional 634 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Synchrony Financial by 15.0% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,310 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 694 shares during the last quarter. Finally, Oak Thistle LLC raised its holdings in Synchrony Financial by 62.9% during the fourth quarter. Oak Thistle LLC now owns 7,394 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 2,856 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

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.