Synchrony Financial (NYSE:SYF) Price Target Raised to $86.00

Synchrony Financial (NYSE:SYF) had its price objective upped by JPMorgan Chase & Co. from $75.00 to $86.00 in a research report report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

SYF has been the topic of several other research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a report on Wednesday, October 8th. Baird R W cut shares of Synchrony Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Wall Street Zen downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Robert W. Baird reissued a “neutral” rating and issued a $82.00 price target on shares of Synchrony Financial in a research note on Friday, December 5th. Finally, JMP Securities raised their price target on shares of Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.47.

Synchrony Financial Price Performance

SYF stock opened at $77.70 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day simple moving average of $80.23 and a 200-day simple moving average of $75.13. The firm has a market capitalization of $27.98 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.54 and a beta of 1.43. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $88.77.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 earnings per share. Equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Wednesday, November 5th. Synchrony Financial’s dividend payout ratio is currently 13.10%.

Synchrony Financial declared that its board has authorized a share buyback program on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 3.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 32,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the completion of the transaction, the insider directly owned 127,100 shares in the company, valued at $9,252,880. This trade represents a 20.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Curtis Howse sold 12,086 shares of Synchrony Financial stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $894,605.72. Following the completion of the sale, the insider directly owned 108,271 shares of the company’s stock, valued at $8,014,219.42. The trade was a 10.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,075 shares of company stock worth $4,036,892 over the last quarter. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Synchrony Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Westside Investment Management Inc. boosted its stake in shares of Synchrony Financial by 100.0% in the third quarter. Westside Investment Management Inc. now owns 358 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 179 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new stake in Synchrony Financial during the 2nd quarter worth approximately $26,000. FWL Investment Management LLC acquired a new stake in Synchrony Financial during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC boosted its position in Synchrony Financial by 54.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider’s stock valued at $29,000 after buying an additional 146 shares during the period. Finally, Palisade Asset Management LLC purchased a new position in Synchrony Financial in the 3rd quarter valued at approximately $29,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.