Synchrony Financial (NYSE:SYF) Price Target Raised to $100.00

Synchrony Financial (NYSE:SYF) had its target price increased by Wells Fargo & Company from $95.00 to $100.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. Hsbc Global Res upgraded shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a report on Wednesday, October 8th. JMP Securities increased their price target on Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. Robert W. Baird reiterated a “neutral” rating and set a $82.00 price target on shares of Synchrony Financial in a report on Friday, December 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $75.00 price objective (down previously from $80.00) on shares of Synchrony Financial in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.11.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $87.42 on Monday. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $88.53. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average price of $79.43 and a 200-day moving average price of $74.53. The company has a market cap of $31.48 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.61 and a beta of 1.43.

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

Synchrony Financial Dividend Announcement

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

Synchrony Financial declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Synchrony Financial news, insider Darrell Owens sold 2,989 shares of Synchrony Financial stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $74.02, for a total transaction of $221,245.78. Following the completion of the transaction, the insider owned 16,096 shares of the company’s stock, valued at $1,191,425.92. The trade was a 15.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan S. Mothner sold 32,000 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the completion of the sale, the insider directly owned 127,100 shares in the company, valued at approximately $9,252,880. The trade was a 20.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 55,075 shares of company stock worth $4,036,892 in the last 90 days. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synchrony Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of SYF. Westside Investment Management Inc. raised its position 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 valued at $25,000 after buying an additional 179 shares in the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in Synchrony Financial in the second quarter valued at $26,000. FWL Investment Management LLC bought a new position in Synchrony Financial in the third quarter valued at $26,000. Salomon & Ludwin LLC raised its position 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 purchasing an additional 146 shares in the last quarter. Finally, Palisade Asset Management LLC bought a new stake in Synchrony Financial during the third quarter worth about $29,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Company Profile

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.