Synchrony Financial (NYSE:SYF) Price Target Raised to $46.00

Synchrony Financial (NYSE:SYF) had its price target lifted by JPMorgan Chase & Co. from $42.00 to $46.00 in a report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on SYF. BMO Capital Markets cut shares of Synchrony Financial from an outperform rating to a market perform rating and set a $40.00 price objective for the company. in a report on Wednesday, January 10th. JMP Securities upped their price target on Synchrony Financial from $35.00 to $42.00 and gave the stock a market outperform rating in a report on Friday, January 12th. Wells Fargo & Company raised their price objective on Synchrony Financial from $38.00 to $45.00 and gave the company an equal weight rating in a report on Wednesday, April 10th. Oppenheimer reaffirmed a market perform rating on shares of Synchrony Financial in a research note on Wednesday, March 6th. Finally, Stephens lifted their price target on shares of Synchrony Financial from $40.00 to $46.00 and gave the company an equal weight rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Synchrony Financial has an average rating of Hold and a consensus target price of $42.72.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $44.67 on Thursday. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $45.46. The company has a quick ratio of 1.22, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The stock has a market cap of $18.17 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 1.10 and a beta of 1.61. The business has a 50-day simple moving average of $41.67 and a 200-day simple moving average of $36.91.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.19). The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations 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 prior year, the company posted $1.35 EPS. On average, equities analysts expect that Synchrony Financial will post 5.63 EPS for the current year.

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

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 14.35%.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the transaction, the insider now owns 14,183 shares of the company’s stock, valued at $552,995.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David P. Melito sold 7,283 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the transaction, the insider now owns 14,183 shares of the company’s stock, valued at $552,995.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,158 shares of company stock valued at $6,106,106. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

Several large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Synchrony Financial by 45.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,458 shares of the financial services provider’s stock valued at $4,142,000 after buying an additional 33,867 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Synchrony Financial by 58.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 280,952 shares of the financial services provider’s stock valued at $10,646,000 after acquiring an additional 103,222 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Synchrony Financial by 4.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,707,427 shares of the financial services provider’s stock valued at $113,336,000 after acquiring an additional 145,466 shares during the period. Blueshift Asset Management LLC lifted its holdings in shares of Synchrony Financial by 51.1% in the 3rd quarter. Blueshift Asset Management LLC now owns 46,331 shares of the financial services provider’s stock worth $1,416,000 after acquiring an additional 15,666 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Synchrony Financial by 2.5% during the 3rd quarter. FMR LLC now owns 2,054,697 shares of the financial services provider’s stock worth $62,812,000 after purchasing an additional 50,495 shares during the period. Institutional investors and hedge funds 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.