Synchrony Financial (NYSE:SYF) Price Target Increased to $51.00 by Analysts at TD Cowen

Synchrony Financial (NYSE:SYF) had its target price raised by TD Cowen from $49.00 to $51.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

SYF has been the subject of a number of other reports. StockNews.com lowered Synchrony Financial from a buy rating to a hold rating in a research note on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on Synchrony Financial in a research report on Wednesday, January 10th. They set a buy rating and a $56.00 target price for the company. Wells Fargo & Company lifted their target price on Synchrony Financial from $38.00 to $45.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Wolfe Research raised Synchrony Financial from an underperform rating to an outperform rating and lifted their target price for the company from $36.00 to $50.00 in a research report on Thursday, April 4th. Finally, Morgan Stanley reaffirmed an underweight rating and set a $30.00 target price on shares of Synchrony Financial in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Synchrony Financial currently has an average rating of Hold and a consensus price target of $42.72.

Synchrony Financial Price Performance

Shares of SYF stock opened at $44.66 on Thursday. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $45.33. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 1.24. The firm has a market capitalization of $18.17 billion, a P/E ratio of 6.41, a P/E/G ratio of 1.11 and a beta of 1.61. The stock has a 50 day moving average price of $41.56 and a 200 day moving average price of $36.76.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the business posted $1.35 earnings per share. As a group, sell-side analysts predict that Synchrony Financial will post 5.57 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.24%. Synchrony Financial’s payout ratio is presently 14.35%.

Synchrony Financial announced that its board has authorized a stock buyback plan on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the sale, the insider now owns 14,183 shares in the company, valued at approximately $552,995.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the sale, the insider now owns 14,183 shares in the company, valued at approximately $552,995.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,158 shares of company stock worth $6,106,106. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently modified their holdings of SYF. Exchange Traded Concepts LLC acquired a new position in shares of Synchrony Financial in the 3rd quarter valued at about $35,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Synchrony Financial by 44.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after buying an additional 390 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Synchrony Financial in the 4th quarter worth about $55,000. Brown Brothers Harriman & Co. boosted its position in Synchrony Financial by 56.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 522 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in Synchrony Financial during the fourth quarter worth approximately $60,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

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.