Synchrony Financial (NYSE:SYF) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Synchrony Financial (NYSE:SYF) from a hold rating to a buy rating in a research report report published on Wednesday morning.

A number of other brokerages also recently commented on SYF. Royal Bank of Canada lifted their target price on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a sector perform rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods restated an outperform rating and issued a $62.00 price target on shares of Synchrony Financial in a research note on Tuesday, June 11th. BMO Capital Markets cut their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a market perform rating on the stock in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price target on Synchrony Financial from $46.00 to $52.00 and gave the company a neutral rating in a research note on Monday, July 8th. Finally, BTIG Research cut shares of Synchrony Financial from a buy rating to a neutral rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $51.43.

Synchrony Financial Stock Up 3.0 %

Shares of SYF opened at $53.15 on Wednesday. The company has a market capitalization of $21.34 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.22 and a beta of 1.61. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $53.30. The stock’s 50-day moving average price is $48.39 and its 200-day moving average price is $46.18. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The company had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the firm earned $1.32 EPS. On average, sell-side analysts predict that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Insider Transactions at Synchrony Financial

In related news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the sale, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SYF. Swedbank AB lifted its holdings in Synchrony Financial by 23.8% during the 2nd quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock worth $4,694,000 after buying an additional 19,098 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Synchrony Financial in the first quarter valued at $2,192,000. Nordea Investment Management AB increased its stake in shares of Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after purchasing an additional 674,366 shares during the last quarter. Meeder Asset Management Inc. increased its position in Synchrony Financial by 98.6% during the first quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock worth $1,029,000 after buying an additional 11,846 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Synchrony Financial by 52.6% in the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock valued at $21,134,000 after acquiring an additional 168,920 shares during the period. 96.48% of the stock is owned by institutional investors.

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.