Synchrony Financial (NYSE:SYF) Price Target Raised to $41.00 at BMO Capital Markets

Synchrony Financial (NYSE:SYF) had its price objective hoisted by BMO Capital Markets from $40.00 to $41.00 in a report published on Thursday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other research analysts have also commented on the stock. Morgan Stanley reiterated an underweight rating and set a $30.00 price objective on shares of Synchrony Financial in a research note on Thursday, February 8th. Evercore ISI boosted their price objective on shares of Synchrony Financial from $45.00 to $47.00 and gave the stock an outperform rating in a research note on Thursday, March 28th. Wells Fargo & Company boosted their price objective on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an equal weight rating in a research note on Wednesday, April 10th. Barclays boosted their price objective on shares of Synchrony Financial from $36.00 to $37.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Finally, StockNews.com lowered shares of Synchrony Financial from a buy rating to a hold rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $42.72.

Synchrony Financial Trading Down 0.8 %

NYSE:SYF opened at $44.66 on Thursday. Synchrony Financial has a one year low of $26.59 and a one year high of $45.33. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 1.24. The firm has a market cap of $18.17 billion, a P/E ratio of 6.41, a P/E/G ratio of 1.11 and a beta of 1.61. The firm has a 50-day simple moving average of $41.56 and a 200-day simple moving average of $36.76.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.19). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the firm posted $1.35 EPS. Equities analysts anticipate that Synchrony Financial will post 5.57 EPS for the current fiscal year.

Synchrony Financial announced that its Board of Directors has initiated a share buyback program on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.35%.

Insider Buying and Selling

In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the transaction, the insider now directly owns 152,604 shares in the company, valued at $6,534,503.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,158 shares of company stock valued at $6,106,106. Corporate insiders own 0.65% 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 business. Fifth Third Bancorp lifted its stake in shares of Synchrony Financial by 0.7% in the first quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock worth $1,649,000 after buying an additional 250 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Synchrony Financial by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 262 shares during the period. US Bancorp DE raised its stake in Synchrony Financial by 0.8% during the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 268 shares during the period. MV Capital Management Inc. raised its stake in Synchrony Financial by 8.3% during the first quarter. MV Capital Management Inc. now owns 3,509 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 270 shares during the period. Finally, Assetmark Inc. raised its stake in Synchrony Financial by 4.3% during the fourth quarter. Assetmark Inc. now owns 6,933 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 288 shares during the period. 96.48% of the stock is owned by hedge funds and other institutional investors.

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.