Brokerages Set Synchrony Financial (NYSE:SYF) Price Target at $44.55

Shares of Synchrony Financial (NYSE:SYF) have been assigned an average recommendation of “Hold” from the twenty-two analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $45.10.

SYF has been the topic of several analyst reports. TD Cowen increased their price target on Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, April 25th. BTIG Research started coverage on shares of Synchrony Financial in a report on Friday, June 7th. They issued a “buy” rating and a $60.00 target price on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $62.00 price target on shares of Synchrony Financial in a report on Tuesday, June 11th. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley reissued an “underweight” rating and set a $30.00 price objective on shares of Synchrony Financial in a research report on Wednesday, June 12th.

Insider Buying and Selling at Synchrony Financial

In related news, insider Curtis Howse sold 31,562 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the completion of the transaction, the insider now owns 121,042 shares in the company, valued at approximately $5,446,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors have recently added to or reduced their stakes in SYF. Quent Capital LLC increased its holdings in shares of Synchrony Financial by 15.4% during the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock worth $69,000 after buying an additional 214 shares in the last quarter. Fifth Third Bancorp increased its holdings in Synchrony Financial by 0.7% during the 1st 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 raised its position in Synchrony Financial by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 262 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Synchrony Financial by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock worth $3,896,000 after purchasing an additional 265 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Synchrony Financial by 0.8% during the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 268 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Trading Up 6.7 %

Synchrony Financial stock opened at $47.19 on Friday. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $47.24. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The stock has a market cap of $18.95 billion, a P/E ratio of 6.77, a P/E/G ratio of 1.03 and a beta of 1.60. The company’s fifty day simple moving average is $44.11 and its 200-day simple moving average is $41.23.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The firm had revenue of $5.57 billion for 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 period in the previous year, the business posted $1.35 EPS. As a group, sell-side analysts forecast that Synchrony Financial will post 5.71 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. Synchrony Financial’s payout ratio is currently 14.35%.

Synchrony Financial announced that its board has authorized a share repurchase plan on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.