Brokerages Set Synchrony Financial (NYSE:SYF) Price Target at $50.41

Synchrony Financial (NYSE:SYF) has earned an average rating of “Moderate Buy” from the twenty-four research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $50.41.

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. BTIG Research initiated coverage on shares of Synchrony Financial in a research note on Friday, June 7th. They issued a “buy” rating and a $60.00 target price for the company. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Wells Fargo & Company upped their price objective on Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group lifted their target price on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th.

Synchrony Financial Price Performance

NYSE:SYF opened at $45.84 on Thursday. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $52.67. The company has a market cap of $18.41 billion, a P/E ratio of 6.58, a P/E/G ratio of 1.11 and a beta of 1.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s 50-day simple moving average is $48.30 and its 200 day simple moving average is $44.95.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the firm earned $1.32 EPS. As a group, sell-side analysts forecast that Synchrony Financial will post 5.79 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business 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. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.18%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction 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 sale, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’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 completion of the sale, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares in the company, valued at $2,510,987.60. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYF. Newbridge Financial Services Group Inc. acquired a new position in shares of Synchrony Financial during the 2nd quarter worth $86,000. Sanctuary Advisors LLC bought a new position in Synchrony Financial in the second quarter valued at about $4,877,000. B. Riley Wealth Advisors Inc. raised its stake in Synchrony Financial by 21.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 13,321 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 2,349 shares in the last quarter. Invst LLC lifted its holdings in shares of Synchrony Financial by 4.7% in the second quarter. Invst LLC now owns 20,432 shares of the financial services provider’s stock worth $983,000 after acquiring an additional 916 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Synchrony Financial by 3.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,899 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 346 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

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.