Synchrony Financial (NYSE:SYF) Given New $59.00 Price Target at Barclays

Synchrony Financial (NYSE:SYF) had its price target upped by Barclays from $49.00 to $59.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Compass Point boosted their price target on Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets dropped their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, July 18th. Finally, Jefferies Financial Group increased their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.25.

Synchrony Financial Stock Down 0.5 %

Synchrony Financial stock opened at $56.42 on Thursday. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 1.26 and a beta of 1.61. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $57.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a 50 day moving average price of $49.43 and a two-hundred day moving average price of $46.68.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.17. The company had revenue of $3.81 billion during 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%. Synchrony Financial’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 earnings per share. Equities analysts predict that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. Synchrony Financial’s payout ratio is 14.35%.

Insider Buying and Selling

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares in the company, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 position. The sale 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 stock in a transaction that occurred 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 sale, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Synchrony Financial by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,486 shares of the financial services provider’s stock worth $315,381,000 after purchasing an additional 313,128 shares during the period. Boston Partners increased its holdings in Synchrony Financial by 66.6% during the first quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after buying an additional 2,548,180 shares during the last quarter. AQR Capital Management LLC raised its position in Synchrony Financial by 14.6% in the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock worth $264,917,000 after acquiring an additional 727,649 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Synchrony Financial by 2.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,496,009 shares of the financial services provider’s stock worth $150,748,000 after acquiring an additional 97,235 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Synchrony Financial by 18.7% in the second quarter. Hsbc Holdings PLC now owns 3,131,599 shares of the financial services provider’s stock valued at $147,599,000 after acquiring an additional 492,312 shares during the last quarter. Hedge funds and other institutional investors 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.