Several other research analysts have also issued reports on the company. Stephens dropped their target price on Synchrony Financial from $54.00 to $47.00 and set an equal weight rating for the company in a research report on Tuesday, April 19th. BMO Capital Markets boosted their target price on Synchrony Financial from $49.00 to $52.00 and gave the company an outperform rating in a research report on Tuesday, April 19th. Morgan Stanley lowered Synchrony Financial from an overweight rating to an equal weight rating and dropped their target price for the company from $56.00 to $40.00 in a research report on Monday, March 28th. The Goldman Sachs Group lifted their price target on shares of Synchrony Financial from $40.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, April 19th. Finally, Wells Fargo & Company decreased their price target on shares of Synchrony Financial from $52.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday, April 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $51.00.
Shares of SYF stock opened at $29.04 on Monday. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 3.94, a price-to-earnings-growth ratio of 0.23 and a beta of 1.43. Synchrony Financial has a 12-month low of $27.77 and a 12-month high of $52.49. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $35.18 and its 200-day moving average price is $39.85.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 2nd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, April 29th. Synchrony Financial’s payout ratio is presently 11.94%.
Synchrony Financial declared that its Board of Directors has initiated a share repurchase program on Monday, April 18th that allows the company to buyback $2.80 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 13.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Hedge funds have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in shares of Synchrony Financial during the third quarter valued at $1,798,000. Cubist Systematic Strategies LLC grew its holdings in shares of Synchrony Financial by 10.4% during the third quarter. Cubist Systematic Strategies LLC now owns 34,151 shares of the financial services provider’s stock valued at $1,669,000 after buying an additional 3,208 shares during the last quarter. Beacon Pointe Advisors LLC grew its holdings in shares of Synchrony Financial by 46.0% during the third quarter. Beacon Pointe Advisors LLC now owns 8,447 shares of the financial services provider’s stock valued at $413,000 after buying an additional 2,660 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Synchrony Financial by 14.6% during the third quarter. LPL Financial LLC now owns 96,771 shares of the financial services provider’s stock valued at $4,730,000 after buying an additional 12,341 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Synchrony Financial during the third quarter valued at $4,925,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.
Synchrony Financial Company Profile (Get Rating)
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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.
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