Synchrony Financial (SYF) Receives New Coverage from Analysts at Stephens
Research analysts at Stephens assumed coverage on shares of Synchrony Financial (NYSE:SYF) in a research report issued on Friday. The firm set an “overweight” rating on the stock.
Several other brokerages also recently issued reports on SYF. Zacks Investment Research downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Vetr downgraded Synchrony Financial from a “strong-buy” rating to a “buy” rating and set a $35.70 price target for the company. in a report on Monday. BTIG Research set a $42.00 price objective on Synchrony Financial and gave the stock a “buy” rating in a report on Sunday, October 23rd. TheStreet upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a report on Monday, November 7th. Finally, Compass Point started coverage on Synchrony Financial in a report on Friday, November 4th. They set a “buy” rating and a $34.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $39.59.
Shares of Synchrony Financial (NYSE:SYF) opened at 33.43 on Friday. Synchrony Financial has a 12-month low of $23.25 and a 12-month high of $33.81. The firm has a market capitalization of $27.60 billion, a price-to-earnings ratio of 12.57 and a beta of 0.89. The company has a 50-day moving average price of $28.65 and a 200 day moving average price of $28.21.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. Synchrony Financial had a return on equity of 16.61% and a net margin of 15.40%. During the same period in the prior year, the company earned $0.69 earnings per share. Equities research analysts expect that Synchrony Financial will post $2.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, November 7th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, November 3rd. This represents a $0.52 annualized dividend and a yield of 1.56%. Synchrony Financial’s payout ratio is currently 19.55%.
In other Synchrony Financial news, insider Margaret M. Keane sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 361,206 shares in the company, valued at approximately $10,836,180. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.02% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SYF. Price T Rowe Associates Inc. MD raised its position in Synchrony Financial by 64.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,281,564 shares of the company’s stock worth $399,884,000 after buying an additional 5,598,606 shares during the period. Credit Suisse AG raised its position in Synchrony Financial by 14.3% in the third quarter. Credit Suisse AG now owns 4,487,229 shares of the company’s stock worth $125,641,000 after buying an additional 561,572 shares during the period. Ameritas Investment Partners Inc. raised its position in Synchrony Financial by 14.9% in the third quarter. Ameritas Investment Partners Inc. now owns 18,940 shares of the company’s stock worth $530,000 after buying an additional 2,454 shares during the period. Pioneer Investment Management Inc. raised its position in Synchrony Financial by 22.6% in the third quarter. Pioneer Investment Management Inc. now owns 4,410,938 shares of the company’s stock worth $123,507,000 after buying an additional 813,409 shares during the period. Finally, Chartwell Investment Partners LLC bought a new position in Synchrony Financial during the third quarter worth approximately $424,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.
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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