Zacks Investment Research upgraded shares of Synchrony Financial (NYSE:SYF) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. Zacks Investment Research currently has $39.00 price target on the stock.

According to Zacks, “Synchrony Financial is a consumer financial services company. It offers private label credit cards, dual cards and small and medium-sized business credit products; promotional financing for consumer purchases, including installment loans; and promotional financing to consumers. The company also offers various deposit products, such as certificates of deposit, individual retirement accounts, money market accounts, and savings accounts directly to retail and commercial customers under the Optimizer+Plus brand. Synchrony Financial is headquartered in Stamford, Connecticut. “

A number of other analysts have also issued reports on the stock. Wedbush assumed coverage on shares of Synchrony Financial in a research note on Monday, October 10th. They issued an outperform rating and a $31.00 price target for the company. Deutsche Bank AG restated a buy rating and issued a $31.50 price target on shares of Synchrony Financial in a research note on Thursday, August 18th. Compass Point assumed coverage on shares of Synchrony Financial in a research note on Friday, November 4th. They issued a buy rating and a $34.00 price target for the company. BTIG Research set a $42.00 price target on shares of Synchrony Financial and gave the stock a buy rating in a research note on Sunday, October 23rd. Finally, TheStreet upgraded shares of Synchrony Financial from a hold rating to a buy rating in a research note on Monday, November 7th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $39.83.

Shares of Synchrony Financial (NYSE:SYF) opened at 33.90 on Thursday. Synchrony Financial has a 1-year low of $23.25 and a 1-year high of $35.02. The firm has a market cap of $27.98 billion, a PE ratio of 12.74 and a beta of 0.89. The stock has a 50 day moving average of $29.84 and a 200 day moving average of $28.33.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.04. Synchrony Financial had a net margin of 15.40% and a return on equity of 16.61%. During the same quarter last year, the company earned $0.69 EPS. Equities research analysts anticipate that Synchrony Financial will post $2.68 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, November 7th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.50%. The ex-dividend date was Thursday, November 3rd. Synchrony Financial’s payout ratio is currently 19.55%.

In related news, insider Margaret M. Keane sold 6,000 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $34.00, for a total value of $204,000.00. Following the completion of the sale, the insider now owns 367,206 shares of the company’s stock, valued at $12,485,004. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Melito sold 2,159 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $33.54, for a total transaction of $72,412.86. Following the completion of the sale, the insider now directly owns 40,863 shares of the company’s stock, valued at approximately $1,370,545.02. The disclosure for this sale can be found here. 0.02% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of SYF. Vanguard Group Inc. increased its stake in Synchrony Financial by 1.7% in the second quarter. Vanguard Group Inc. now owns 49,269,728 shares of the company’s stock valued at $1,245,539,000 after buying an additional 816,276 shares during the last quarter. Janus Capital Management LLC increased its stake in Synchrony Financial by 13.6% in the second quarter. Janus Capital Management LLC now owns 27,841,462 shares of the company’s stock valued at $703,816,000 after buying an additional 3,336,585 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Synchrony Financial by 14.1% in the second quarter. Bank of New York Mellon Corp now owns 21,921,122 shares of the company’s stock valued at $554,167,000 after buying an additional 2,706,823 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Synchrony Financial by 1.4% in the third quarter. First Eagle Investment Management LLC now owns 16,481,807 shares of the company’s stock valued at $461,491,000 after buying an additional 230,732 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Synchrony Financial by 64.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,281,564 shares of the company’s stock valued at $399,884,000 after buying an additional 5,598,606 shares during the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.

About Synchrony Financial

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

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