Synchrony Financial (NYSE:SYF) Downgraded by StockNews.com

StockNews.com cut shares of Synchrony Financial (NYSE:SYF) from a buy rating to a hold rating in a research note published on Tuesday.

Several other research firms have also issued reports on SYF. BMO Capital Markets reduced their price objective on shares of Synchrony Financial from $42.00 to $41.00 and set a market perform rating for the company in a research note on Thursday, July 18th. Compass Point started coverage on Synchrony Financial in a research note on Tuesday, July 16th. They set a buy rating and a $56.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Synchrony Financial from $46.00 to $52.00 and gave the company a neutral rating in a report on Monday, July 8th. Bank of America raised Synchrony Financial from a neutral rating to a buy rating and set a $54.00 target price for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price target on shares of Synchrony Financial from $49.00 to $53.00 and gave the company an equal weight rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $50.41.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $51.86 on Tuesday. 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 one year low of $27.30 and a one year high of $52.67. The business’s 50-day moving average price is $48.12 and its two-hundred day moving average price is $45.81. The company has a market capitalization of $20.82 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 1.17 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.35 by $0.20. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. During the same quarter in the previous year, the business posted $1.32 EPS. Analysts anticipate that Synchrony Financial will post 5.79 earnings per share 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 paid a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. 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 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 completion of the transaction, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated 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 $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. 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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB grew its position in Synchrony Financial by 23.8% in the second quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock valued at $4,694,000 after acquiring an additional 19,098 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Synchrony Financial in the 1st quarter valued at $2,192,000. Nordea Investment Management AB grew its holdings in shares of 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 purchasing an additional 674,366 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of 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 worth $1,029,000 after purchasing an additional 11,846 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in 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 purchasing an additional 168,920 shares during the last quarter. 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.