Synchrony Financial (NYSE:SYF) Reaches New 12-Month High – What’s Next?

Shares of Synchrony Financial (NYSE:SYF) hit a new 52-week high on Wednesday . The stock traded as high as $65.30 and last traded at $64.78, with a volume of 392468 shares. The stock had previously closed at $56.82.

Analyst Ratings Changes

Several equities analysts have commented on SYF shares. The Goldman Sachs Group raised their price objective on Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. Bank of America upgraded shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Friday, August 9th. Morgan Stanley lifted their target price on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Finally, StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

Synchrony Financial Trading Down 1.3 %

The stock has a market capitalization of $24.84 billion, a PE ratio of 8.44, a P/E/G ratio of 1.31 and a beta of 1.59. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average price of $51.84 and a 200-day moving average price of $48.05.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the company posted $1.48 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Synchrony Financial will post 6.42 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be given a $0.25 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.57%. Synchrony Financial’s payout ratio is presently 13.05%.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the transaction, the insider now owns 99,743 shares of the company’s stock, valued at $5,498,831.59. 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 available through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. 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 Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Synchrony Financial during the first quarter worth about $211,000. Janney Montgomery Scott LLC purchased a new position in shares of Synchrony Financial in the first quarter worth $213,000. Mutual of America Capital Management LLC lifted its holdings in shares of Synchrony Financial by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock worth $3,896,000 after buying an additional 265 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Synchrony Financial during the first quarter worth $89,000. Finally, GSA Capital Partners LLP grew its stake in Synchrony Financial by 76.4% during the first quarter. GSA Capital Partners LLP now owns 13,247 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 5,738 shares in the last quarter. Institutional investors 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.