Synchrony Financial (SYF) Downgraded by Zacks Investment Research to “Hold”
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. “
Several other equities research analysts have also recently issued reports on the company. Vetr cut Synchrony Financial from a buy rating to a hold rating and set a $36.22 price objective on the stock. in a report on Thursday, November 24th. JMP Securities lifted their price objective on Synchrony Financial from $33.00 to $37.00 and gave the stock a market outperform rating in a report on Tuesday, November 22nd. Barclays PLC set a $41.00 price objective on Synchrony Financial and gave the stock a buy rating in a report on Monday, November 21st. Stephens started coverage on shares of Synchrony Financial in a research note on Friday, November 18th. They issued an overweight rating and a $40.00 target price on the stock. Finally, TheStreet raised shares of Synchrony Financial from a hold rating to a buy rating in a research note on Monday, November 7th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $39.83.
Synchrony Financial (NYSE:SYF) opened at 33.80 on Tuesday. The stock’s 50 day moving average price is $29.84 and its 200-day moving average price is $28.33. The company has a market cap of $27.90 billion, a PE ratio of 12.71 and a beta of 0.89. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $35.02.
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 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 period in the previous year, the business posted $0.69 EPS. On average, analysts forecast that Synchrony Financial will post $2.68 earnings per share for the current year.
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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 of this dividend was Thursday, November 3rd. This represents a $0.52 annualized dividend and a yield of 1.54%. Synchrony Financial’s dividend payout ratio is currently 19.55%.
In related news, insider Margaret M. Keane sold 2,000 shares of the 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 completion of the transaction, the insider now directly owns 361,206 shares of the company’s stock, valued at $10,836,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Margaret M. Keane sold 6,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $34.00, for a total transaction of $204,000.00. Following the transaction, the insider now directly owns 367,206 shares of the company’s stock, valued at $12,485,004. The disclosure for this sale can be found here. Corporate insiders own 0.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYF. Albert D Mason Inc. raised its position in shares of Synchrony Financial by 2.2% in the second quarter. Albert D Mason Inc. now owns 38,564 shares of the company’s stock valued at $975,000 after buying an additional 844 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of Synchrony Financial by 16.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 9,440 shares of the company’s stock valued at $239,000 after buying an additional 1,335 shares during the last quarter. Handelsbanken Fonder AB bought a new position in shares of Synchrony Financial during the second quarter valued at $3,792,000. Heritage Investors Management Corp raised its position in shares of Synchrony Financial by 14.0% in the second quarter. Heritage Investors Management Corp now owns 434,790 shares of the company’s stock valued at $10,991,000 after buying an additional 53,371 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Synchrony Financial by 3.1% in the second quarter. Capstone Asset Management Co. now owns 61,535 shares of the company’s stock valued at $1,556,000 after buying an additional 1,851 shares during the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.
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.
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