Synchrony Financial (NYSE:SYF) Price Target Increased to $62.00 by Analysts at TD Cowen

Synchrony Financial (NYSE:SYF) had its target price raised by TD Cowen from $60.00 to $62.00 in a report released on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on SYF. Robert W. Baird began coverage on shares of Synchrony Financial in a report on Friday, June 28th. They set an “outperform” rating and a $56.00 price objective for the company. Royal Bank of Canada raised their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday. Compass Point raised their price target on shares of Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a research report on Friday, June 28th. Finally, BTIG Research lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and an average target price of $56.25.

Synchrony Financial Stock Down 0.5 %

Shares of NYSE SYF opened at $56.42 on Thursday. The stock has a market capitalization of $22.30 billion, a P/E ratio of 7.84, a P/E/G 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 1 year low of $27.30 and a 1 year high of $57.26. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) 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 revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. On average, equities research analysts forecast that Synchrony Financial will post 5.81 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

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

Insider Transactions at Synchrony Financial

In other news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Several hedge funds have recently bought and sold shares of SYF. Wellington Management Group LLP grew its stake in Synchrony Financial by 18.5% during the fourth quarter. Wellington Management Group LLP now owns 65,514 shares of the financial services provider’s stock valued at $2,502,000 after acquiring an additional 10,207 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Synchrony Financial by 8.2% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 11,872 shares of the financial services provider’s stock worth $453,000 after buying an additional 900 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Synchrony Financial by 21.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 58,603 shares of the financial services provider’s stock worth $2,238,000 after buying an additional 10,242 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Synchrony Financial by 62.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 302,337 shares of the financial services provider’s stock worth $13,037,000 after buying an additional 115,790 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Synchrony Financial by 16.3% in the 1st quarter. GAMMA Investing LLC now owns 3,911 shares of the financial services provider’s stock worth $169,000 after buying an additional 547 shares in the last quarter. Hedge funds and other 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.