Synchrony Financial (NYSE:SYF) Given New $60.00 Price Target at Compass Point

Synchrony Financial (NYSE:SYF) had its price target raised by Compass Point from $56.00 to $60.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

SYF has been the topic of a number of other research reports. Evercore ISI cut their price target on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Barclays boosted their price objective on shares of Synchrony Financial from $46.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. BMO Capital Markets lowered their target price on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, July 18th. BTIG Research lowered Synchrony Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group increased their price objective on Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

Synchrony Financial Stock Performance

SYF stock opened at $56.53 on Wednesday. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $56.59. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. The firm has a market cap of $22.34 billion, a PE ratio of 7.85, a P/E/G ratio of 1.26 and a beta of 1.61. The business’s 50-day moving average price is $49.02 and its two-hundred day moving average price is $46.43.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter last year, the firm posted $1.32 earnings per share. As a group, research analysts forecast that Synchrony Financial will post 5.81 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. Synchrony Financial’s dividend payout ratio (DPR) is 13.89%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Synchrony Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners increased its holdings in shares of Synchrony Financial by 66.6% during the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after purchasing an additional 2,548,180 shares during the period. Los Angeles Capital Management LLC increased its stake in Synchrony Financial by 402.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider’s stock worth $71,739,000 after acquiring an additional 1,217,872 shares during the period. AQR Capital Management LLC raised its holdings in Synchrony Financial by 14.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock valued at $264,917,000 after acquiring an additional 727,649 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock valued at $115,266,000 after acquiring an additional 674,366 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Synchrony Financial by 400.2% during the 2nd quarter. Acadian Asset Management LLC now owns 842,539 shares of the financial services provider’s stock worth $39,751,000 after purchasing an additional 674,093 shares in the last quarter. Institutional investors and hedge funds 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.