Synchrony Financial (SYF) Rating Lowered to Hold at Zacks Investment Research
Synchrony Financial (NYSE:SYF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Synchrony Financial is a consumer financial services company. It offers private label credit cards, dual cards and small and medium-sized business credit products; promotional financing for consumer purchases, including installment loans; and promotional financing to consumers. The company also offers various deposit products, such as certificates of deposit, individual retirement accounts, money market accounts, and savings accounts directly to retail and commercial customers under the Optimizer+Plus brand. Synchrony Financial is headquartered in Stamford, Connecticut. “
A number of other analysts also recently weighed in on the stock. Vetr downgraded shares of Synchrony Financial from a “strong-buy” rating to a “buy” rating and set a $35.70 price target for the company. in a research report on Monday. TheStreet upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. Compass Point started coverage on Synchrony Financial in a research note on Friday, November 4th. They set a “buy” rating and a $34.00 price objective on the stock. BTIG Research set a $42.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a research note on Sunday, October 23rd. Finally, Wedbush started coverage on Synchrony Financial in a research note on Monday, October 10th. They set an “outperform” rating and a $31.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.59.
Synchrony Financial (NYSE:SYF) opened at 32.61 on Tuesday. The stock’s 50 day moving average is $28.49 and its 200-day moving average is $28.17. The firm has a market capitalization of $26.92 billion, a PE ratio of 12.26 and a beta of 0.89. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $33.81.
Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, October 21st. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same quarter in the prior year, the company earned $0.69 earnings per share. Equities research analysts forecast that Synchrony Financial will post $2.68 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Monday, November 7th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, November 3rd. This represents a $0.52 annualized dividend and a yield of 1.59%. Synchrony Financial’s payout ratio is currently 19.55%.
In related news, insider Margaret M. Keane sold 2,000 shares of Synchrony Financial stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the completion of the sale, the insider now directly owns 361,206 shares of the company’s stock, valued at approximately $10,836,180. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.02% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Osborn Rohs Williams & Donohoe Ltd raised its position in Synchrony Financial by 88.1% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 23,490 shares of the company’s stock worth $594,000 after buying an additional 11,000 shares during the period. British Columbia Investment Management Corp raised its position in Synchrony Financial by 32.9% in the second quarter. British Columbia Investment Management Corp now owns 487,087 shares of the company’s stock worth $12,314,000 after buying an additional 120,653 shares during the period. Daiwa SB Investments Ltd. raised its position in Synchrony Financial by 8.5% in the second quarter. Daiwa SB Investments Ltd. now owns 5,250 shares of the company’s stock worth $130,000 after buying an additional 410 shares during the period. Exxonmobil Investment Management Inc. TX raised its position in Synchrony Financial by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 215,860 shares of the company’s stock worth $5,457,000 after buying an additional 12,843 shares during the period. Finally, Chevy Chase Trust Holdings Inc. raised its position in Synchrony Financial by 6.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 885,105 shares of the company’s stock worth $22,375,000 after buying an additional 57,230 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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