Synchrony Financial (NYSE:SYF) Cut to Neutral at BTIG Research

BTIG Research lowered shares of Synchrony Financial (NYSE:SYF) from a buy rating to a neutral rating in a research report released on Monday morning, Marketbeat.com reports.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $62.00 target price on shares of Synchrony Financial in a research note on Tuesday, June 11th. Wells Fargo & Company upped their target price on shares of Synchrony Financial from $49.00 to $53.00 and gave the stock an equal weight rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a sector perform rating in a research note on Thursday, July 18th. BMO Capital Markets cut their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a market perform rating on the stock in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Synchrony Financial from $46.00 to $52.00 and gave the company a neutral rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of Moderate Buy and a consensus price target of $50.41.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $51.04 on Monday. The firm’s 50 day moving average price is $48.35 and its 200-day moving average price is $45.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. Synchrony Financial has a one year low of $27.30 and a one year high of $52.67. The firm has a market cap of $20.17 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.11 and a beta of 1.62.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the business posted $1.32 EPS. As a group, equities research analysts predict that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio is currently 14.35%.

Insider Buying and Selling

In related news, insider Bart Schaller sold 930 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synchrony Financial

Large investors have recently made changes to their positions in the stock. Quent Capital LLC grew its holdings in shares of Synchrony Financial by 15.4% during the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock worth $69,000 after buying an additional 214 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Synchrony Financial by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after buying an additional 251 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of Synchrony Financial by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after buying an additional 262 shares in the last quarter. Certuity LLC grew its holdings in shares of Synchrony Financial by 0.8% during the second quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 264 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in shares of Synchrony Financial by 0.3% during 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. Hedge funds and other 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.