Synchrony Financial (NYSE:SYF) Price Target Raised to $60.00 at Compass Point

Synchrony Financial (NYSE:SYF) had its price objective increased by Compass Point from $56.00 to $60.00 in a research note published on Wednesday, Benzinga reports. Compass Point currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on SYF. Jefferies Financial Group lifted their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Barclays raised their target price on shares of Synchrony Financial from $46.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group raised their target price on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. BTIG Research lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Robert W. Baird started coverage on shares of Synchrony Financial in a research report on Friday, June 28th. They issued an “outperform” rating and a $56.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $56.42 on Wednesday. The company’s 50 day simple moving average is $49.43 and its 200 day simple moving average is $46.64. The stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $57.26.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $1.48 earnings per share. As a group, research analysts predict that Synchrony Financial will post 5.81 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 annualized dividend and a yield of 1.77%. Synchrony Financial’s payout ratio is 13.89%.

Insider Activity at Synchrony Financial

In related news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synchrony Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Synchrony Financial in the first quarter valued at $28,000. Altshuler Shaham Ltd bought a new stake in Synchrony Financial in the second quarter valued at $31,000. International Assets Investment Management LLC bought a new stake in Synchrony Financial in the second quarter valued at $33,000. WR Wealth Planners LLC increased its stake in Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Synchrony Financial in the second quarter valued at $39,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Company Profile

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.