Synchrony Financial (NYSE:SYF) Price Target Increased to $68.00 by Analysts at Deutsche Bank Aktiengesellschaft

Synchrony Financial (NYSE:SYF) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $58.00 to $68.00 in a research note released on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also weighed in on SYF. JMP Securities reiterated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a report on Monday. Robert W. Baird started coverage on Synchrony Financial in a research report on Friday, June 28th. They issued an “outperform” rating and a $56.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. BTIG Research downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Barclays raised their target price on shares of Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.95.

Synchrony Financial Stock Performance

Synchrony Financial stock opened at $56.70 on Thursday. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two 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 stock has a market cap of $22.41 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The firm’s fifty day moving average price is $49.23 and its 200-day moving average price is $46.50.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion for 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%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. On average, equities research analysts expect that Synchrony Financial will post 5.81 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.89%.

Insider Buying and Selling

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction dated 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 sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the sale, the insider now 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 insiders.

Institutional Trading of Synchrony Financial

Several hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Synchrony Financial in the 1st quarter valued at $28,000. Altshuler Shaham Ltd purchased a new position in Synchrony Financial during the second quarter worth about $31,000. International Assets Investment Management LLC acquired a new stake in shares of Synchrony Financial during the second quarter valued at about $33,000. WR Wealth Planners LLC increased its position in shares of Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Synchrony Financial in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors 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.