Synchrony Financial (NYSE:SYF) PT Raised to $51.00 at TD Cowen

Synchrony Financial (NYSE:SYF) had its price target hoisted by TD Cowen from $49.00 to $51.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Synchrony Financial from a buy rating to a hold rating in a report on Wednesday, April 17th. Wells Fargo & Company upped their target price on Synchrony Financial from $38.00 to $45.00 and gave the company an equal weight rating in a report on Wednesday, April 10th. Piper Sandler raised their price target 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. Bank of America upped their price objective on shares of Synchrony Financial from $43.00 to $44.00 and gave the company a neutral rating in a research note on Thursday. Finally, BMO Capital Markets increased their price objective on shares of Synchrony Financial from $40.00 to $41.00 and gave the stock a market perform rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $42.72.

Synchrony Financial Stock Up 0.0 %

Shares of NYSE SYF opened at $44.67 on Thursday. The company has a 50 day simple moving average of $41.67 and a 200 day simple moving average of $36.91. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.22. Synchrony Financial has a 1 year low of $26.59 and a 1 year high of $45.46. The firm 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.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter last year, the company posted $1.35 earnings per share. On average, research analysts forecast that Synchrony Financial will post 5.63 EPS for the current year.

Synchrony Financial declared that its board has authorized a stock buyback program on Wednesday, April 24th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Synchrony Financial Dividend Announcement

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

Insider Buying and Selling at Synchrony Financial

In other news, insider Brian D. Doubles sold 134,696 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $27,246,164.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Brian D. Doubles sold 134,696 shares of the 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 completion of the sale, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 in the company, valued at approximately $552,995.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,158 shares of company stock valued at $6,106,106. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Synchrony Financial

Several institutional investors have recently made changes to their positions in SYF. Fifth Third Bancorp lifted its position in shares of Synchrony Financial by 0.7% during the first quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock valued at $1,649,000 after purchasing an additional 250 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in shares of Synchrony Financial by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after buying an additional 262 shares in the last quarter. US Bancorp DE boosted its stake in shares of Synchrony Financial by 0.8% in the 4th quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock worth $1,329,000 after buying an additional 268 shares during the last quarter. MV Capital Management Inc. grew its holdings in shares of Synchrony Financial by 8.3% in the first quarter. MV Capital Management Inc. now owns 3,509 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 270 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Synchrony Financial by 4.3% during the fourth quarter. Assetmark Inc. now owns 6,933 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 288 shares during the last quarter. 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.