Synchrony Financial (NYSE:SYF) PT Raised to $42.00

Synchrony Financial (NYSE:SYF) had its price objective increased by JPMorgan Chase & Co. from $39.00 to $42.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. JMP Securities increased their price objective on Synchrony Financial from $35.00 to $42.00 and gave the stock a market outperform rating in a report on Friday, January 12th. Piper Sandler raised their price objective on Synchrony Financial from $46.00 to $48.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. The Goldman Sachs Group raised their price objective on Synchrony Financial from $35.00 to $40.00 and gave the company a buy rating in a research report on Monday, December 18th. Evercore ISI raised their price objective on Synchrony Financial from $45.00 to $47.00 and gave the company an outperform rating in a research report on Thursday, March 28th. Finally, Bank of America raised their price objective on Synchrony Financial from $41.00 to $43.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $40.88.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $41.28 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $16.79 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The business’s 50-day moving average price is $40.79 and its 200-day moving average price is $35.67. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $43.83.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period last year, the company earned $1.26 EPS. Sell-side analysts forecast that Synchrony Financial will post 5.7 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s dividend payout ratio is currently 19.31%.

Insider Buying and Selling at Synchrony Financial

In related news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the transaction, the insider now owns 660,353 shares in the company, valued at approximately $27,246,164.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Brian D. Doubles sold 134,696 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares in the company, valued at approximately $27,246,164.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,158 shares of company stock worth $6,106,106. Insiders own 0.65% of the company’s stock.

Institutional Trading of Synchrony Financial

Large investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Synchrony Financial by 0.9% in the first quarter. BlackRock Inc. now owns 41,115,547 shares of the financial services provider’s stock valued at $1,195,640,000 after buying an additional 361,844 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Synchrony Financial by 6.3% in the first quarter. Goldman Sachs Group Inc. now owns 8,123,671 shares of the financial services provider’s stock valued at $282,786,000 after buying an additional 484,220 shares during the last quarter. First Trust Advisors LP increased its holdings in Synchrony Financial by 14.9% in the first quarter. First Trust Advisors LP now owns 6,791,030 shares of the financial services provider’s stock valued at $197,483,000 after buying an additional 879,797 shares during the last quarter. Invesco Ltd. increased its holdings in Synchrony Financial by 16.0% in the third quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock valued at $167,187,000 after buying an additional 755,856 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Synchrony Financial by 3.7% in the third quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider’s stock valued at $152,040,000 after acquiring an additional 178,344 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.