Synchrony Financial (NYSE:SYF) Coverage Initiated at Truist Financial

Truist Financial started coverage on shares of Synchrony Financial (NYSE:SYF) in a report issued on Tuesday morning,Benzinga reports. The brokerage issued a hold rating and a $72.00 target price on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group lifted their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Evercore ISI boosted their target price on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, BTIG Research lowered Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.98.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $66.64 on Tuesday. The firm has a 50 day moving average of $65.15 and a 200 day moving average of $54.96. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $25.95 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. Synchrony Financial has a 52 week low of $35.29 and a 52 week high of $69.39.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the previous year, the company posted $1.48 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Synchrony Financial will post 6.51 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.50%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC increased its position in shares of Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after buying an additional 292 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Synchrony Financial in the 2nd quarter valued at $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in Synchrony Financial in the 2nd quarter worth $39,000. Quarry LP raised its position in Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 675 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Synchrony Financial during the third quarter valued at $50,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

About Synchrony Financial

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.