Synchrony Financial Plans Quarterly Dividend of $0.25 (NYSE:SYF)

Synchrony Financial (NYSE:SYF) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.25 per share by the financial services provider on Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, November 4th.

Synchrony Financial has raised its dividend by an average of 2.9% per year over the last three years. Synchrony Financial has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Synchrony Financial to earn $6.42 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.6%.

Synchrony Financial Price Performance

Shares of SYF stock opened at $55.25 on Friday. The stock’s 50-day moving average is $51.19 and its 200 day moving average is $47.59. Synchrony Financial has a 1-year low of $28.24 and a 1-year high of $57.37. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $21.51 billion, a P/E ratio of 7.21, a PEG ratio of 1.09 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts predict that Synchrony Financial will post 6.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SYF has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a research note on Thursday, July 18th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 9th. Evercore ISI lifted their price target on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. TD Cowen raised their price objective on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upped their target price on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.60.

Insider Buying and Selling at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is owned by corporate insiders.

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.