Synchrony Financial (NYSE:SYF) PT Raised to $60.00 at Wells Fargo & Company

Synchrony Financial (NYSE:SYF) had its target price lifted by Wells Fargo & Company from $53.00 to $60.00 in a research report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on SYF. BMO Capital Markets reduced their price target on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a report on Thursday, July 18th. Morgan Stanley boosted their target price on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada upped their price objective on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Synchrony Financial Stock Down 0.5 %

Shares of Synchrony Financial stock opened at $56.42 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. Synchrony Financial has a 52-week low of $27.30 and a 52-week high of $57.26. The company’s 50 day moving average price is $49.43 and its 200-day moving average price is $46.68. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 1.26 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm earned $1.48 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Bart Schaller sold 930 shares of the company’s 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 transaction, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

A number of hedge funds have recently added to or reduced their stakes in SYF. Swedbank AB increased its holdings in shares of Synchrony Financial by 23.8% in the 2nd quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock worth $4,694,000 after purchasing an additional 19,098 shares in the last quarter. Cetera Investment Advisers purchased a new position in Synchrony Financial in the 1st quarter worth about $2,192,000. Nordea Investment Management AB raised its position in Synchrony Financial by 33.5% in the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after buying an additional 674,366 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Synchrony Financial by 98.6% during the 1st quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock valued at $1,029,000 after acquiring an additional 11,846 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Synchrony Financial by 52.6% during the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock valued at $21,134,000 after acquiring an additional 168,920 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

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.