Synchrony Financial (NYSE:SYF) Price Target Raised to $47.00 at Evercore ISI

Synchrony Financial (NYSE:SYF) had its target price upped by Evercore ISI from $45.00 to $47.00 in a report released on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

SYF has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Synchrony Financial in a research note on Wednesday, January 10th. They set a buy rating and a $56.00 price target for the company. JMP Securities raised their price target on shares of Synchrony Financial from $35.00 to $42.00 and gave the stock a market outperform rating in a research note on Friday, January 12th. Stephens raised their price target on shares of Synchrony Financial from $40.00 to $46.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $35.00 to $40.00 and gave the stock a buy rating in a research note on Monday, December 18th. Finally, Piper Sandler raised their price objective on shares of Synchrony Financial from $46.00 to $48.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $39.24.

Synchrony Financial Trading Up 2.0 %

NYSE:SYF opened at $43.12 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 1.02 and a beta of 1.61. Synchrony Financial has a 52 week low of $26.59 and a 52 week high of $43.83. The firm has a 50-day moving average price of $40.21 and a two-hundred day moving average price of $35.22.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $4.45 billion. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. During the same quarter last year, the business posted $1.26 EPS. On average, equities analysts expect that Synchrony Financial will post 5.7 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is currently 19.31%.

Insider Activity

In other news, insider Brian D. Doubles sold 134,696 shares of the firm’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 sale, the insider now owns 660,353 shares in the company, valued at approximately $27,246,164.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Curtis Howse sold 6,179 shares of the firm’s 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 in the company, valued at approximately $6,534,503.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian D. Doubles sold 134,696 shares of the firm’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 sale, the insider now owns 660,353 shares in the company, valued at approximately $27,246,164.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,158 shares of company stock worth $6,106,106. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

Large investors have recently added to or reduced their stakes in the business. Live Oak Investment Partners purchased a new position in Synchrony Financial in the 4th quarter worth $27,000. Covestor Ltd raised its position in Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 644 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Synchrony Financial in the third quarter valued at about $35,000. Zions Bancorporation N.A. increased its position in shares of Synchrony Financial by 230.5% in the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 855 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of 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 valued at $49,000 after acquiring an additional 390 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

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.