Synchrony Financial (SYF) Downgraded to “Hold” at Vetr Inc.
Vetr lowered shares of Synchrony Financial (NYSE:SYF) from a buy rating to a hold rating in a report issued on Thursday. They currently have $36.22 price objective on the stock.
SYF has been the topic of several other reports. Zacks Investment Research cut Synchrony Financial from a hold rating to a sell rating in a report on Wednesday, September 28th. Compass Point initiated coverage on Synchrony Financial in a report on Friday, November 4th. They set a buy rating and a $34.00 price target on the stock. JMP Securities increased their price target on Synchrony Financial from $33.00 to $37.00 and gave the company a market outperform rating in a report on Tuesday. Barclays PLC set a $41.00 price target on Synchrony Financial and gave the company a buy rating in a report on Monday. Finally, Nomura restated a buy rating and set a $34.00 price target on shares of Synchrony Financial in a report on Thursday, September 22nd. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Synchrony Financial presently has a consensus rating of Buy and an average target price of $39.83.
Shares of Synchrony Financial (NYSE:SYF) opened at 34.96 on Thursday. The company has a 50-day moving average of $29.37 and a 200 day moving average of $28.30. Synchrony Financial has a 12-month low of $23.25 and a 12-month high of $35.02. The company has a market cap of $28.86 billion, a PE ratio of 13.14 and a beta of 0.89.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 posted $0.69 EPS. On average, equities research analysts expect that Synchrony Financial will post $2.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, November 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Thursday, November 3rd. Synchrony Financial’s payout ratio is currently 19.55%.
In related news, insider Margaret M. Keane sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $30.00, for a total transaction of $60,000.00. Following the sale, the insider now owns 361,206 shares of the company’s stock, valued at $10,836,180. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David P. Melito sold 2,159 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $33.54, for a total value of $72,412.86. Following the sale, the insider now directly owns 40,863 shares in the company, valued at approximately $1,370,545.02. The disclosure for this sale can be found here. Corporate insiders own 0.02% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. D Orazio & Associates Inc. boosted its stake 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 during the period. 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 worth $113,000 after buying an additional 103 shares during the period. Societe Generale acquired a new stake in Synchrony Financial during the second quarter worth approximately $118,000. Commonwealth Bank of Australia boosted its stake 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 during the period. Finally, Daiwa SB Investments Ltd. boosted its stake 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. 88.24% of the stock is currently owned by 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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