Synchrony Financial (SYF) To Go Ex-Dividend on November 4th

Synchrony Financial (NYSE:SYF) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.25 per share by the financial services provider on Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, November 4th.

Synchrony Financial has raised its dividend by an average of 2.9% per year over the last three years. Synchrony Financial has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Synchrony Financial to earn $6.42 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 15.6%.

Synchrony Financial Trading Up 0.2 %

Shares of SYF stock opened at $55.25 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 12-month low of $28.24 and a 12-month high of $57.37. The stock has a market capitalization of $21.51 billion, a P/E ratio of 7.21, a P/E/G ratio of 1.09 and a beta of 1.59. The firm’s 50 day moving average is $51.19 and its 200 day moving average is $47.59.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Synchrony Financial will post 6.28 earnings per share for the current year.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value 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. The trade was 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 the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SYF shares. TD Cowen boosted their price objective on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a report on Friday, August 9th. Morgan Stanley boosted their price target on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average target price of $56.60.

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.