Synchrony Financial (NYSE:SYF) PT Raised to $44.00

Synchrony Financial (NYSE:SYF) had its target price hoisted by Bank of America from $43.00 to $44.00 in a research note released on Thursday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on Synchrony Financial in a research note on Wednesday, January 10th. They set a buy rating and a $56.00 target price for the company. JPMorgan Chase & Co. raised their target price on Synchrony Financial from $42.00 to $46.00 and gave the company a neutral rating in a research note on Thursday. Stephens raised their target price on Synchrony Financial from $40.00 to $46.00 and gave the company an equal weight rating in a research note on Wednesday, January 24th. Piper Sandler increased their price target on Synchrony Financial from $46.00 to $48.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Finally, Evercore ISI increased their price target on Synchrony Financial from $45.00 to $47.00 and gave the company an outperform rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $42.72.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $44.67 on Thursday. The stock has a market cap of $18.17 billion, a P/E ratio of 6.41, a price-to-earnings-growth ratio of 1.10 and a beta of 1.61. The company has a current ratio of 1.24, a quick ratio of 1.22 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average of $41.67 and a 200-day moving average of $36.97. Synchrony Financial has a 52 week low of $26.59 and a 52 week high of $45.46.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data 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). Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the business earned $1.35 earnings per share. On average, analysts expect that Synchrony Financial will post 5.63 EPS for the current fiscal year.

Synchrony Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 24th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Synchrony Financial Dividend Announcement

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

Insider Activity

In other news, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction 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 transaction, the insider now owns 14,183 shares in the company, valued at approximately $552,995.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 sale, the insider now owns 14,183 shares in the company, valued at approximately $552,995.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction dated 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 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. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in Synchrony Financial during the 3rd quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV increased its holdings in Synchrony Financial by 44.1% during the 4th 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 in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Synchrony Financial during the 4th quarter worth approximately $55,000. Brown Brothers Harriman & Co. increased its holdings in Synchrony Financial by 56.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 522 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in Synchrony Financial during the 4th quarter worth approximately $60,000. 96.48% of the stock is owned by institutional investors and hedge funds.

About Synchrony Financial

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.