Bank of America initiated coverage on shares of Synchrony Financial (NYSE:SYF) in a research note issued to investors on Monday morning, The Fly reports. The firm issued a buy rating and a $42.00 target price on the financial services provider’s stock.
SYF has been the subject of several other research reports. Oppenheimer set a $39.00 target price on shares of Synchrony Financial and gave the stock a buy rating in a research note on Tuesday, October 15th. Nomura set a $43.00 target price on shares of Synchrony Financial and gave the stock a buy rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $39.31.
SYF opened at $37.14 on Monday. The company has a market capitalization of $24.17 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 0.94 and a beta of 1.16. The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 1.35. The firm has a 50-day moving average price of $36.03 and a 200-day moving average price of $34.63. Synchrony Financial has a twelve month low of $21.77 and a twelve month high of $37.60.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.33 billion. Synchrony Financial had a net margin of 19.54% and a return on equity of 20.05%. During the same quarter last year, the company earned $0.91 earnings per share. On average, sell-side analysts expect that Synchrony Financial will post 4.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.37%. Synchrony Financial’s dividend payout ratio (DPR) is currently 23.53%.
In other news, Director Will W. Graylin sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $33.71, for a total value of $252,825.00. Following the completion of the transaction, the director now directly owns 76,662 shares in the company, valued at $2,584,276.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in SYF. Commonwealth Equity Services LLC boosted its position in shares of Synchrony Financial by 13.5% in the second quarter. Commonwealth Equity Services LLC now owns 41,802 shares of the financial services provider’s stock valued at $1,449,000 after acquiring an additional 4,979 shares during the period. Bessemer Group Inc. boosted its position in shares of Synchrony Financial by 2,914.9% in the second quarter. Bessemer Group Inc. now owns 76,638 shares of the financial services provider’s stock valued at $2,657,000 after acquiring an additional 74,096 shares during the period. FDx Advisors Inc. boosted its position in shares of Synchrony Financial by 4.5% in the second quarter. FDx Advisors Inc. now owns 7,503 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 325 shares during the period. Greenleaf Trust bought a new position in shares of Synchrony Financial in the second quarter valued at approximately $202,000. Finally, First Quadrant L P CA boosted its position in shares of Synchrony Financial by 137.5% in the second quarter. First Quadrant L P CA now owns 98,181 shares of the financial services provider’s stock valued at $3,404,000 after acquiring an additional 56,835 shares during the period. Institutional investors own 86.85% of the company’s stock.
Synchrony Financial Company Profile
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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