Synchrony Financial (NYSE:SYF) to Issue Quarterly Dividend of $0.25

Synchrony Financial (NYSE:SYF) announced a quarterly dividend on Tuesday, January 21st,RTT News reports. Investors of record on Monday, February 3rd will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, February 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Monday, February 3rd.

Synchrony Financial has raised its dividend payment by an average of 4.4% annually over the last three years. Synchrony Financial has a payout ratio of 12.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Synchrony Financial to earn $6.64 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.1%.

Synchrony Financial Trading Up 1.5 %

NYSE:SYF opened at $70.49 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a twelve month low of $36.85 and a twelve month high of $70.76. The company has a market cap of $27.45 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. The business has a 50 day moving average price of $66.42 and a two-hundred day moving average price of $56.40.

Insider Activity

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

SYF has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Robert W. Baird set a $62.00 price target on Synchrony Financial in a research 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 price objective for the company. UBS Group boosted their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus price target of $65.45.

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.