Synchrony Financial’s (SYF) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Synchrony Financial (NYSE:SYF) in a report published on Monday morning, Benzinga reports. They currently have a $60.00 target price on the financial services provider’s stock.

A number of other research firms have also weighed in on SYF. The Goldman Sachs Group boosted their target price on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Friday, August 9th. Finally, BMO Capital Markets decreased their target price on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.95.

Synchrony Financial Stock Up 0.3 %

NYSE:SYF opened at $56.70 on Monday. The firm has a market capitalization of $22.41 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $57.26. The stock’s 50 day moving average price is $49.23 and its two-hundred day moving average price is $46.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 EPS. Equities research analysts expect that Synchrony Financial will post 5.81 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.89%.

Insider Transactions at Synchrony Financial

In other news, 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 sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the sale, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction dated 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 directly owns 76,251 shares in the company, valued at $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. 0.33% of the stock is currently owned by insiders.

Institutional Trading of Synchrony Financial

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of Synchrony Financial during the first quarter valued at about $28,000. Altshuler Shaham Ltd acquired a new stake in shares of Synchrony Financial during the second quarter valued at about $31,000. International Assets Investment Management LLC acquired a new stake in shares of Synchrony Financial during the second quarter valued at about $33,000. WR Wealth Planners LLC boosted its stake in shares of Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Synchrony Financial during the second quarter valued at about $39,000. 96.48% of the stock is owned by institutional investors and hedge funds.

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.