Synchrony Financial (NYSE:SYF) Price Target Raised to $68.00 at Truist Financial

Synchrony Financial (NYSE:SYF) had its price target hoisted by Truist Financial from $63.00 to $68.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

SYF has been the subject of several other reports. The Goldman Sachs Group lowered their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Cfra Research raised Synchrony Financial to a “hold” rating in a report on Tuesday, April 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $44.00 price objective (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price objective on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.78.

Synchrony Financial Stock Down 2.7%

NYSE:SYF opened at $59.76 on Friday. The firm has a market capitalization of $22.75 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The stock has a 50 day moving average of $54.83 and a 200-day moving average of $59.80. Synchrony Financial has a 52 week low of $40.55 and a 52 week high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.01%. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial’s dividend payout ratio is 16.46%.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 40,639 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the sale, the insider now directly owns 146,628 shares of the company’s stock, valued at $8,807,943.96. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

Large investors have recently modified their holdings of the stock. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial during the 4th quarter worth $26,000. TCTC Holdings LLC bought a new stake in shares of Synchrony Financial during the 4th quarter worth $27,000. Zions Bancorporation National Association UT bought a new stake in shares of Synchrony Financial during the 1st quarter worth $30,000. Geneos Wealth Management Inc. boosted its stake in shares of Synchrony Financial by 337.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 455 shares in the last quarter. Finally, MAI Capital Management boosted its stake in shares of Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 167 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

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.