Synchrony Financial (NYSE:SYF) announced a quarterly dividend on Thursday, April 22nd, RTT News reports. Shareholders of record on Monday, May 3rd will be given a dividend of 0.22 per share by the financial services provider on Thursday, May 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.21%.
Synchrony Financial has increased its dividend payment by 57.1% over the last three years and has raised its dividend every year for the last 1 years.
Synchrony Financial stock opened at $39.88 on Friday. The stock has a 50-day simple moving average of $41.33 and a 200 day simple moving average of $35.12. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.39. Synchrony Financial has a 12-month low of $15.17 and a 12-month high of $43.61. The stock has a market capitalization of $23.19 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 1.92 and a beta of 1.79.
Synchrony Financial declared that its Board of Directors has initiated a stock buyback plan on Tuesday, January 26th that allows the company to repurchase $1.60 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Several analysts recently weighed in on SYF shares. Evercore ISI began coverage on Synchrony Financial in a research note on Wednesday, April 14th. They issued an “outperform” rating and a $49.00 price objective on the stock. Morgan Stanley raised their price objective on Synchrony Financial from $53.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, April 1st. TheStreet raised Synchrony Financial from a “c+” rating to a “b” rating in a research note on Friday, February 12th. JMP Securities lifted their target price on Synchrony Financial from $36.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, January 26th. Finally, JPMorgan Chase & Co. cut their target price on Synchrony Financial from $49.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 15th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.87.
In other news, insider Paul Whynott sold 20,480 shares of the company’s stock in a transaction dated Tuesday, March 2nd. The stock was sold at an average price of $39.76, for a total value of $814,284.80. Also, insider David P. Melito sold 2,205 shares of the company’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $42.16, for a total value of $92,962.80. Following the completion of the transaction, the insider now owns 17,342 shares of the company’s stock, valued at $731,138.72. The disclosure for this sale can be found here. Insiders sold a total of 27,422 shares of company stock valued at $1,072,237 over the last quarter. Company insiders own 0.45% of the company’s stock.
About Synchrony Financial
Synchrony Financial operates as a consumer financial services company in the United States. It provides a range of specialized financing programs and consumer banking products to digital, retail, home, auto, travel, health, and pet industries. The company also offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards, dual cards, and installment loans.
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