Synchrony Financial to Issue Quarterly Dividend of $0.25 (NYSE:SYF)

Synchrony Financial (NYSE:SYF) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Monday, May 6th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, May 3rd.

Synchrony Financial has raised its dividend by an average of 2.9% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Synchrony Financial has a payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Synchrony Financial to earn $6.05 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 16.5%.

Synchrony Financial Trading Down 1.0 %

SYF opened at $44.56 on Thursday. Synchrony Financial has a 52 week low of $26.59 and a 52 week high of $45.16. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. The stock has a market cap of $18.13 billion, a PE ratio of 8.70, a PEG ratio of 1.06 and a beta of 1.61. The business has a 50 day moving average of $41.47 and a 200-day moving average of $36.70.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the business earned $1.35 EPS. Equities research analysts predict that Synchrony Financial will post 5.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SYF has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Synchrony Financial in a report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 price objective for the company. Wells Fargo & Company lifted their price objective on Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Piper Sandler lifted their price objective on Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. BMO Capital Markets lowered Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 price objective for the company. in a report on Wednesday, January 10th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Synchrony Financial in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.44.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now owns 14,183 shares in the company, valued at approximately $552,995.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,158 shares of company stock valued at $6,106,106. 0.65% of the stock is owned by corporate insiders.

Synchrony Financial Company Profile

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.