Synchrony Financial (NYSE:SYF – Free Report) had its price target hoisted by Bank of America from $82.00 to $85.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.
A number of other research firms also recently commented on SYF. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a report on Monday, October 14th. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Compass Point raised their price target on shares of Synchrony Financial from $60.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.30.
View Our Latest Stock Report on Synchrony Financial
Synchrony Financial Stock Up 0.9 %
Synchrony Financial (NYSE:SYF – Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. On average, equities research analysts predict that Synchrony Financial will post 6.54 earnings per share for the current fiscal year.
Synchrony Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.44%. Synchrony Financial’s payout ratio is 13.05%.
Insider Transactions at Synchrony Financial
In other news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of SYF. Southpoint Capital Advisors LP boosted its position in shares of Synchrony Financial by 37.9% during the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after purchasing an additional 1,265,000 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its holdings in Synchrony Financial by 389.8% during the third quarter. Zurich Insurance Group Ltd FI now owns 1,138,672 shares of the financial services provider’s stock worth $56,797,000 after buying an additional 906,172 shares in the last quarter. Soros Fund Management LLC acquired a new position in Synchrony Financial in the third quarter worth approximately $41,088,000. Assenagon Asset Management S.A. grew its position in Synchrony Financial by 589.3% in the third quarter. Assenagon Asset Management S.A. now owns 644,203 shares of the financial services provider’s stock worth $32,133,000 after buying an additional 550,750 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Synchrony Financial by 18.5% during the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after acquiring an additional 481,750 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.
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.
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