Barclays Reiterates Buy Rating for Synchrony Financial (SYF)

Barclays restated their buy rating on shares of Synchrony Financial (NYSE:SYF) in a report released on Tuesday, November 21st. Barclays currently has a $43.00 price objective on the financial services provider’s stock.

Several other analysts also recently weighed in on SYF. JMP Securities boosted their target price on shares of Synchrony Financial from $35.00 to $37.00 and gave the stock a market outperform rating in a research report on Monday, October 23rd. Wells Fargo & Company boosted their target price on shares of Synchrony Financial from $33.00 to $35.00 and gave the stock a market perform rating in a research report on Monday, October 23rd. Bank of America downgraded shares of Synchrony Financial from a buy rating to a neutral rating and dropped their target price for the stock from $35.00 to $33.00 in a research report on Friday, October 6th. Morgan Stanley downgraded shares of Synchrony Financial from an overweight rating to an equal weight rating and dropped their target price for the stock from $35.00 to $32.00 in a research report on Friday, September 8th. Finally, Zacks Investment Research downgraded shares of Synchrony Financial from a hold rating to a sell rating in a report on Monday, September 25th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Synchrony Financial presently has a consensus rating of Buy and an average price target of $37.14.

Synchrony Financial (NYSE SYF) traded down $0.05 during mid-day trading on Tuesday, hitting $37.34. 8,103,359 shares of the company were exchanged, compared to its average volume of 7,059,712. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $29,220.00, a PE ratio of 14.24, a PEG ratio of 1.88 and a beta of 1.06.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. equities research analysts predict that Synchrony Financial will post 2.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 6th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 22.81%.

In related news, insider Jonathan S. Mothner sold 1,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $33.50, for a total value of $33,500.00. Following the completion of the sale, the insider now owns 113,578 shares of the company’s stock, valued at $3,804,863. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David P. Melito sold 1,881 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the transaction, the insider now directly owns 43,140 shares of the company’s stock, valued at approximately $1,639,320. The disclosure for this sale can be found here. Insiders sold 6,961 shares of company stock valued at $244,508 over the last quarter. Company insiders own 0.03% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Westside Investment Management Inc. raised its holdings in Synchrony Financial by 32.1% in the second quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 867 shares in the last quarter. Patten Group Inc. raised its holdings in Synchrony Financial by 3,019.4% in the third quarter. Patten Group Inc. now owns 106,713 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 103,292 shares in the last quarter. First Quadrant L P CA raised its holdings in Synchrony Financial by 55.4% in the second quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Synchrony Financial by 39.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 1,280 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in Synchrony Financial by 19.7% in the second quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 880 shares in the last quarter. 85.77% of the stock is currently owned by institutional investors and hedge funds.

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About Synchrony Financial

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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