Synchrony Financial (NYSE:SYF) Receives $74.17 Consensus Target Price from Brokerages

Shares of Synchrony Financial (NYSE:SYF) have been given an average recommendation of “Moderate Buy” by the twenty ratings firms that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $74.05.

Several equities analysts recently commented on the stock. Evercore ISI reduced their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley raised their price objective on Synchrony Financial from $48.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. BTIG Research raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, July 14th. The Goldman Sachs Group increased their target price on Synchrony Financial from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, JMP Securities lifted their price target on Synchrony Financial from $68.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 17th.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 11,380 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider owned 108,062 shares of the company’s stock, valued at approximately $7,024,030. This represents a 9.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the sale, the insider owned 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

Institutional investors have recently added to or reduced their stakes in the company. Howard Capital Management Inc. boosted its holdings in shares of Synchrony Financial by 0.4% during the 2nd quarter. Howard Capital Management Inc. now owns 104,801 shares of the financial services provider’s stock valued at $6,994,000 after buying an additional 438 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Synchrony Financial by 8.9% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 78,601 shares of the financial services provider’s stock worth $5,246,000 after purchasing an additional 6,400 shares during the period. SYM FINANCIAL Corp increased its stake in shares of Synchrony Financial by 15.3% during the second quarter. SYM FINANCIAL Corp now owns 4,978 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 659 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in shares of Synchrony Financial by 6.0% during the second quarter. AustralianSuper Pty Ltd now owns 2,901,244 shares of the financial services provider’s stock valued at $193,629,000 after purchasing an additional 164,437 shares in the last quarter. Finally, Convergence Investment Partners LLC boosted its position in shares of Synchrony Financial by 1.4% in the 2nd quarter. Convergence Investment Partners LLC now owns 57,294 shares of the financial services provider’s stock worth $3,824,000 after purchasing an additional 782 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $67.43 on Friday. The stock’s 50-day moving average is $65.44 and its 200 day moving average is $60.16. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 0.67 and a beta of 1.49. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $73.76. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.78. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. On average, sell-side analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, August 5th. Synchrony Financial’s dividend payout ratio is presently 14.56%.

Synchrony Financial Company Profile

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.