Synchrony Financial (NYSE:SYF) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of Synchrony Financial (NYSE:SYFFree Report) in a research report report published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $62.00 target price on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. Bank of America raised their target price on shares of Synchrony Financial from $43.00 to $44.00 and gave the company a neutral rating in a research report on Thursday, April 25th. Evercore ISI raised their price objective on Synchrony Financial from $45.00 to $47.00 and gave the company an outperform rating in a report on Thursday, March 28th. Wells Fargo & Company upped their target price on Synchrony Financial from $38.00 to $45.00 and gave the stock an equal weight rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on Synchrony Financial from $42.00 to $46.00 and gave the company a neutral rating in a research note on Thursday, April 25th. Finally, TD Cowen upped their price objective on Synchrony Financial from $49.00 to $51.00 and gave the company a buy rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $44.55.

Read Our Latest Stock Report on Synchrony Financial

Synchrony Financial Price Performance

Shares of SYF stock opened at $41.69 on Tuesday. The business has a fifty day simple moving average of $43.38 and a 200 day simple moving average of $40.46. The company has a market cap of $16.74 billion, a P/E ratio of 5.98, a P/E/G ratio of 1.02 and a beta of 1.60. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $46.72.

Synchrony Financial (NYSE:SYFGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the company posted $1.35 EPS. On average, sell-side analysts forecast that Synchrony Financial will post 5.71 EPS for the current fiscal year.

Synchrony Financial announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 24th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.40%. Synchrony Financial’s payout ratio is currently 14.35%.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total value of $1,420,290.00. Following the transaction, the insider now directly owns 121,042 shares of the company’s stock, valued at $5,446,890. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

A number of large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Synchrony Financial by 45.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,458 shares of the financial services provider’s stock valued at $4,142,000 after buying an additional 33,867 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Synchrony Financial by 58.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 280,952 shares of the financial services provider’s stock valued at $10,646,000 after acquiring an additional 103,222 shares during the period. Weiss Asset Management LP bought a new stake in shares of Synchrony Financial during the fourth quarter valued at approximately $2,592,000. Victory Capital Management Inc. raised its position in shares of Synchrony Financial by 5.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,384,091 shares of the financial services provider’s stock worth $91,048,000 after purchasing an additional 116,458 shares during the period. Finally, Convergence Investment Partners LLC lifted its holdings in shares of Synchrony Financial by 255.2% in the 4th quarter. Convergence Investment Partners LLC now owns 27,989 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 20,110 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

About Synchrony Financial

(Get Free Report)

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.

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