Synchrony Financial (NYSE:SYF) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Synchrony Financial (NYSE:SYF)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $73.54 and traded as low as $69.87. Synchrony Financial shares last traded at $73.2070, with a volume of 5,760,926 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SYF. JPMorgan Chase & Co. raised their target price on Synchrony Financial from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Barclays boosted their price target on Synchrony Financial from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Evercore downgraded Synchrony Financial from an “outperform” rating to a “hold” rating and set a $78.00 price target for the company. in a report on Wednesday, October 21st. TD Cowen lowered their price objective on Synchrony Financial from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Finally, Weiss Ratings upgraded Synchrony Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.78.

Synchrony Financial Stock Performance

The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 0.88 and a beta of 1.40. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.23. The company’s fifty day simple moving average is $74.22 and its two-hundred day simple moving average is $73.49.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.26. Synchrony Financial had a net margin of 14.59% and a return on equity of 22.26%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the firm earned $2.86 EPS. Equities research analysts predict that Synchrony Financial will post 9.61 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 5th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, November 5th. Synchrony Financial’s dividend payout ratio is currently 14.20%.

Institutional Investors Weigh In On Synchrony Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Synchrony Financial during the second quarter valued at approximately $2,349,452,000. Bank of America Corp DE acquired a new stake in Synchrony Financial in the 2nd quarter valued at about $1,122,961,000. Dimensional Fund Advisors LP grew its position in Synchrony Financial by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,039,753 shares of the financial services provider’s stock worth $410,760,000 after buying an additional 365,353 shares during the last quarter. First Trust Advisors LP raised its position in shares of Synchrony Financial by 5.6% during the first quarter. First Trust Advisors LP now owns 5,338,110 shares of the financial services provider’s stock worth $363,098,000 after purchasing an additional 281,451 shares during the period. Finally, Assetmark Inc. lifted its stake in Synchrony Financial by 0.9% during the first quarter. Assetmark Inc. now owns 4,338,604 shares of the financial services provider’s stock valued at $295,112,000 after buying an additional 37,114 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

About Synchrony Financial

Synchrony Financial is a consumer financial services company that provides credit products and related services through partnerships with retailers, healthcare providers and other businesses. Its offerings include private-label and co-branded credit cards, installment loans and promotional financing options. The company also provides consumer banking products, including savings accounts and certificates of deposit. Its financing solutions serve customers in areas such as retail, home improvement, automotive, health and wellness, and digital commerce, primarily in the United States.