JPMorgan Chase & Co. Boosts Synchrony Financial (NYSE:SYF) Price Target to $52.00

Synchrony Financial (NYSE:SYF) had its target price boosted by JPMorgan Chase & Co. from $46.00 to $52.00 in a research report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the company. Baird R W upgraded Synchrony Financial to a strong-buy rating in a research note on Friday, June 28th. Barclays lifted their price objective on Synchrony Financial from $36.00 to $37.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Evercore ISI lifted their price objective on Synchrony Financial from $45.00 to $47.00 and gave the company an outperform rating in a research note on Thursday, March 28th. BMO Capital Markets raised their target price on Synchrony Financial from $40.00 to $41.00 and gave the company a market perform rating in a research report on Thursday, April 25th. Finally, StockNews.com cut Synchrony Financial from a buy rating to a hold rating in a research report on Thursday, July 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial has a consensus rating of Moderate Buy and a consensus target price of $46.41.

Synchrony Financial Stock Down 0.7 %

Synchrony Financial stock opened at $48.09 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. The stock has a market capitalization of $19.31 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.11 and a beta of 1.63. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $48.97. The business has a fifty day moving average price of $44.70 and a 200-day moving average price of $41.84.

Synchrony Financial (NYSE:SYF) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter last year, the business earned $1.35 EPS. Equities research analysts forecast that Synchrony Financial will post 5.71 EPS for the current fiscal year.

Synchrony Financial declared that its Board of Directors has approved a share 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 reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, May 3rd. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new position in Synchrony Financial during the 1st quarter worth $28,000. Massmutual Trust Co. FSB ADV grew 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 acquiring an additional 390 shares in the last quarter. Versant Capital Management Inc grew its holdings in Synchrony Financial by 786.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,055 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 936 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Synchrony Financial during the 4th quarter worth $55,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Synchrony Financial by 56.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock valued at $55,000 after buying an additional 522 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

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.