Brokerages Set Synchrony Financial (NYSE:SYF) Target Price at $43.74

Shares of Synchrony Financial (NYSE:SYF) have been given a consensus recommendation of “Hold” by the twenty research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $43.74.

A number of research firms recently issued reports on SYF. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company raised their price objective on Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $45.00 to $62.00 in a research note on Thursday. Morgan Stanley reissued an “underweight” rating and issued a $30.00 price target on shares of Synchrony Financial in a research note on Thursday, February 8th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Synchrony Financial in a research note on Wednesday, March 6th.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the sale, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Several large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC bought a new position in Synchrony Financial during the 3rd quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV boosted its holdings in Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 390 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Synchrony Financial during the first quarter valued at $60,000. Brown Brothers Harriman & Co. lifted its position in shares of Synchrony Financial by 56.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after buying an additional 522 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Synchrony Financial in the 4th quarter worth about $55,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Up 0.8 %

Shares of SYF stock opened at $45.60 on Friday. The stock has a market cap of $18.31 billion, a P/E ratio of 6.54, a P/E/G ratio of 1.12 and a beta of 1.58. 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 fifty-two week low of $26.59 and a fifty-two week high of $45.91. The business has a fifty day simple moving average of $42.15 and a 200-day simple moving average of $37.49.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter in the previous year, the firm posted $1.35 EPS. On average, analysts forecast that Synchrony Financial will post 5.62 earnings per share for the current fiscal year.

Synchrony Financial announced that its board has initiated a share repurchase plan on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

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.