Synchrony Financial (NYSE:SYF) Given New $84.00 Price Target at Evercore ISI

Synchrony Financial (NYSE:SYF) had its target price upped by Evercore ISI from $83.00 to $84.00 in a research report released on Tuesday,Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday. Truist Financial raised their price objective on shares of Synchrony Financial from $68.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, July 24th. JMP Securities lifted their price objective on Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. increased their target price on Synchrony Financial from $52.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, Wall Street Zen raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.68.

Synchrony Financial Stock Up 0.5%

SYF opened at $70.21 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $26.12 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 0.70 and a beta of 1.50. Synchrony Financial has a one year low of $40.54 and a one year high of $77.41. The business’s fifty day moving average is $73.24 and its two-hundred day moving average is $63.40.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.78. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.During the same quarter last year, the business posted $1.55 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. Analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial’s dividend payout ratio is currently 14.56%.

Insiders Place Their Bets

In other news, insider Darrell Owens sold 600 shares of Synchrony Financial stock in a transaction on Monday, August 4th. The stock was sold at an average price of $67.95, for a total value of $40,770.00. Following the completion of the sale, the insider owned 21,372 shares of the company’s stock, valued at $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the transaction, the insider owned 68,588 shares of the company’s stock, valued at $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

Several hedge funds have recently modified their holdings of SYF. Vanguard Group Inc. increased its position in Synchrony Financial by 0.6% during the first quarter. Vanguard Group Inc. now owns 48,420,051 shares of the financial services provider’s stock worth $2,563,358,000 after purchasing an additional 281,383 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Synchrony Financial by 34.6% during the 2nd quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider’s stock valued at $907,356,000 after buying an additional 3,494,741 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Synchrony Financial by 6.5% during the 1st quarter. Allianz Asset Management GmbH now owns 5,868,022 shares of the financial services provider’s stock valued at $310,653,000 after buying an additional 358,708 shares during the period. Invesco Ltd. increased its holdings in shares of Synchrony Financial by 13.7% during the 1st quarter. Invesco Ltd. now owns 5,858,422 shares of the financial services provider’s stock worth $310,145,000 after buying an additional 706,212 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Synchrony Financial by 8.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,307,077 shares of the financial services provider’s stock worth $354,194,000 after buying an additional 406,796 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.