Brokerages Set Synchrony Financial (NYSE:SYF) Target Price at $65.33

Synchrony Financial (NYSE:SYF) has been given an average recommendation of “Moderate Buy” by the nineteen research firms that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $65.78.

A number of analysts have recently commented on SYF shares. JPMorgan Chase & Co. cut their price objective on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Evercore ISI dropped their price target on Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Cfra Research upgraded Synchrony Financial to a “hold” rating in a research report on Tuesday, April 22nd. Truist Financial boosted their price target on Synchrony Financial from $63.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, June 13th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of the business’s stock in a transaction on Monday, May 19th. The stock was 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 approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the sale, the insider owned 108,062 shares in the company, valued at $7,024,030. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

Large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its holdings in shares of Synchrony Financial by 22.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 21,203 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 3,824 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Synchrony Financial in the 4th quarter valued at about $556,000. US Bancorp DE increased its holdings in shares of Synchrony Financial by 52.8% in the 4th quarter. US Bancorp DE now owns 64,485 shares of the financial services provider’s stock valued at $4,192,000 after acquiring an additional 22,269 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Synchrony Financial by 116.5% in the 4th quarter. Jones Financial Companies Lllp now owns 11,059 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 5,952 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Synchrony Financial in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Up 1.1%

Synchrony Financial stock opened at $70.25 on Wednesday. The stock has a market capitalization of $26.74 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93. The business has a 50 day simple moving average of $59.89 and a 200-day simple moving average of $59.54. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. On average, analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, May 5th. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. Synchrony Financial’s payout ratio is currently 16.46%.

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.