Synchrony Financial (NYSE:SYF) Price Target Raised to $92.00

Synchrony Financial (NYSE:SYF) had its price objective lifted by Truist Financial from $78.00 to $92.00 in a report issued on Monday,Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Several other research firms have also recently commented on SYF. Evercore ISI raised their price target on shares of Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Robert W. Baird reiterated a “neutral” rating and issued a $82.00 target price on shares of Synchrony Financial in a research report on Friday, December 5th. Baird R W lowered shares of Synchrony Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. BTIG Research reaffirmed a “buy” rating and issued a $100.00 price target on shares of Synchrony Financial in a research note on Thursday, October 16th. Finally, Wolfe Research began coverage on Synchrony Financial in a report on Monday, December 8th. They set an “outperform” rating and a $92.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

Synchrony Financial Trading Down 0.9%

NYSE SYF opened at $84.78 on Monday. The firm’s 50 day moving average price is $76.99 and its two-hundred day moving average price is $72.84. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $86.48. The stock has a market cap of $30.53 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.60 and a beta of 1.46.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the company earned $1.94 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial declared that its board has approved a stock buyback program on Wednesday, October 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, November 5th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. Synchrony Financial’s dividend payout ratio is currently 13.10%.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 32,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $72.80, for a total value of $2,329,600.00. Following the completion of the sale, the insider owned 127,100 shares of the company’s stock, valued at $9,252,880. The trade was a 20.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur W. Coviello, Jr. sold 8,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $73.93, for a total value of $591,440.00. Following the sale, the director owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,075 shares of company stock valued at $4,036,892 in the last three months. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. boosted its holdings in shares of Synchrony Financial by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 358 shares of the financial services provider’s stock worth $25,000 after buying an additional 179 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new position in Synchrony Financial during the 2nd quarter worth $26,000. FWL Investment Management LLC acquired a new position in Synchrony Financial during the 3rd quarter worth $26,000. Salomon & Ludwin LLC boosted its holdings in Synchrony Financial by 54.9% during the third quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 146 shares during the period. Finally, Palisade Asset Management LLC acquired a new stake in shares of Synchrony Financial in the third quarter valued at about $29,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.