Zacks Investment Research lowered shares of Synchrony Financial (NYSE:SYF) from a buy rating to a hold rating in a report issued on Wednesday.

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 brokerages have also recently weighed in on SYF. Credit Suisse Group AG set a $37.00 price target on Synchrony Financial and gave the stock a buy rating in a research note on Thursday, September 22nd. Barclays PLC set a $41.00 price target on Synchrony Financial and gave the stock a buy rating in a research note on Monday. Stephens started coverage on Synchrony Financial in a research note on Friday, November 18th. They issued an overweight rating and a $40.00 price target on the stock. Vetr cut Synchrony Financial from a strong-buy rating to a buy rating and set a $35.70 price target on the stock. in a research note on Monday, November 14th. Finally, JMP Securities lifted their price target on Synchrony Financial from $33.00 to $37.00 and gave the stock a market outperform rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Synchrony Financial presently has a consensus rating of Buy and an average target price of $39.80.

Synchrony Financial (NYSE:SYF) opened at 34.96 on Wednesday. Synchrony Financial has a 12-month low of $23.25 and a 12-month high of $35.02. The stock has a market cap of $28.86 billion, a price-to-earnings ratio of 13.14 and a beta of 0.89. The company has a 50-day moving average of $29.37 and a 200 day moving average of $28.30.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ 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 previous year, the company posted $0.69 EPS. Equities analysts anticipate that Synchrony Financial will post $2.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Monday, November 7th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 19.55%.

In other Synchrony Financial news, insider Margaret M. Keane sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $30.00, for a total value of $60,000.00. Following the sale, the insider now directly owns 361,206 shares in the company, valued at $10,836,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David P. Melito sold 2,159 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $33.54, for a total value of $72,412.86. Following the completion of the sale, the insider now owns 40,863 shares in the company, valued at $1,370,545.02. The disclosure for this sale can be found here. 0.02% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. NEXT Financial Group Inc boosted its stake in shares of Synchrony Financial by 2.6% in the third quarter. NEXT Financial Group Inc now owns 4,019 shares of the company’s stock worth $113,000 after buying an additional 103 shares during the period. D Orazio & Associates Inc. raised its position in Synchrony Financial by 75.0% in the second quarter. D Orazio & Associates Inc. now owns 4,200 shares of the company’s stock worth $106,000 after buying an additional 1,800 shares in the last quarter. Commonwealth Bank of Australia raised its position in Synchrony Financial by 50.2% in the third quarter. Commonwealth Bank of Australia now owns 4,562 shares of the company’s stock worth $128,000 after buying an additional 1,525 shares in the last quarter. Societe Generale acquired a new position in Synchrony Financial during the second quarter worth approximately $118,000. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 88.24% of the company’s stock.

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Synchrony Financial Company Profile

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.

5 Day Chart for NYSE:SYF

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