Synchrony Financial (NYSE:SYF) Research Coverage Started at Truist Financial

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

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada raised their price objective on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research note on Thursday, October 17th. Compass Point boosted their target price on Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird set a $62.00 price target on Synchrony Financial in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.43.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $65.80 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 12 month low of $35.29 and a 12 month high of $69.39. The stock has a 50 day moving average of $65.55 and a 200 day moving average of $55.11. The firm has a market cap of $25.62 billion, a PE ratio of 8.59, a PEG ratio of 0.82 and a beta of 1.64.

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

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. This represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total value 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 position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. National Pension Service grew its holdings in Synchrony Financial by 22.7% in the third quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock worth $47,773,000 after purchasing an additional 177,051 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of Synchrony Financial in the 2nd quarter worth $951,000. Ensign Peak Advisors Inc grew its stake in Synchrony Financial by 9.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 443,251 shares of the financial services provider’s stock worth $20,917,000 after buying an additional 36,865 shares during the last quarter. National Bank of Canada FI increased its position in Synchrony Financial by 119.0% during the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock valued at $12,123,000 after buying an additional 132,047 shares in the last quarter. Finally, Brophy Wealth Management LLC purchased a new stake in Synchrony Financial in the third quarter valued at about $544,000. 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.