Synchrony Financial (SYF) Price Target Raised to $37.00 at JMP Securities
Synchrony Financial (NYSE:SYF) had its price objective boosted by JMP Securities from $33.00 to $37.00 in a research note published on Tuesday morning. The brokerage currently has a market outperform rating on the stock.
Other research analysts have also recently issued research reports about the company. BTIG Research set a $42.00 target price on Synchrony Financial and gave the company a buy rating in a report on Sunday, October 23rd. Deutsche Bank AG reissued a buy rating and issued a $31.50 price objective on shares of Synchrony Financial in a research report on Thursday, August 18th. TheStreet raised Synchrony Financial from a hold rating to a buy rating in a research report on Monday, November 7th. Stephens began coverage on Synchrony Financial in a research report on Friday, November 18th. They set an overweight rating and a $40.00 target price on the stock. Finally, Bank of America Corp. reaffirmed a neutral rating and set a $30.00 target price (up from $28.00) on shares of Synchrony Financial in a research report on Tuesday, July 26th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $39.56.
Synchrony Financial (NYSE:SYF) opened at 33.97 on Tuesday. The firm has a market capitalization of $28.04 billion, a PE ratio of 12.77 and a beta of 0.89. Synchrony Financial has a 52-week low of $23.25 and a 52-week high of $34.33. The stock’s 50 day moving average price is $29.16 and its 200 day moving average price is $28.25.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data 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 quarter in the previous year, the business earned $0.69 EPS. Analysts expect that Synchrony Financial will post $2.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, November 7th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.52 annualized dividend and a yield of 1.53%. Synchrony Financial’s dividend payout ratio is 19.55%.
In other Synchrony Financial news, insider Margaret M. Keane sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the insider now directly owns 361,206 shares of the company’s stock, valued at $10,836,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.02% of the company’s stock.
A number of hedge funds have recently modified their holdings of SYF. Daiwa Securities Group Inc. boosted its stake in shares of Synchrony Financial by 0.5% in the third quarter. Daiwa Securities Group Inc. now owns 20,000 shares of the company’s stock valued at $560,000 after buying an additional 100 shares in the last quarter. NEXT Financial Group Inc boosted its stake in Synchrony Financial by 2.6% in the third quarter. NEXT Financial Group Inc now owns 4,019 shares of the company’s stock valued at $113,000 after buying an additional 103 shares during the period. Cadence Capital Management LLC boosted its stake in Synchrony Financial by 0.9% in the second quarter. Cadence Capital Management LLC now owns 14,768 shares of the company’s stock valued at $373,000 after buying an additional 137 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Synchrony Financial by 4.4% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 5,350 shares of the company’s stock valued at $150,000 after buying an additional 225 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Synchrony Financial by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,065 shares of the company’s stock valued at $479,000 after buying an additional 228 shares during the period. 88.24% of the stock is currently owned by hedge funds and other institutional investors.
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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