Synchrony Financial (NYSE:SYF) Price Target Raised to $37.00

Synchrony Financial (NYSE:SYF - Free Report) had its target price raised by Barclays from $36.00 to $37.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider's stock.

A number of other research analysts also recently commented on SYF. JPMorgan Chase & Co. increased their price target on Synchrony Financial from $39.00 to $42.00 and gave the company a neutral rating in a report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft started coverage on Synchrony Financial in a report on Wednesday, January 10th. They set a buy rating and a $56.00 target price on the stock. JMP Securities increased their target price on Synchrony Financial from $35.00 to $42.00 and gave the stock a market outperform rating in a report on Friday, January 12th. Piper Sandler increased their target price on Synchrony Financial from $46.00 to $48.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. Finally, Bank of America increased their target price on Synchrony Financial from $41.00 to $43.00 and gave the stock a neutral rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $41.24.

Synchrony Financial Stock Down 0.4 %

SYF traded down $0.18 on Tuesday, reaching $42.33. The company's stock had a trading volume of 2,287,422 shares, compared to its average volume of 4,487,289. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.00 and a beta of 1.61. Synchrony Financial has a 1 year low of $26.59 and a 1 year high of $43.83. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.22 and a quick ratio of 1.22. The business's 50 day moving average is $40.85 and its 200 day moving average is $35.79.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.10. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same quarter in the prior year, the business posted $1.26 earnings per share. As a group, research analysts forecast that Synchrony Financial will post 5.7 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, February 2nd. Synchrony Financial's dividend payout ratio is currently 19.31%.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 6,179 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now directly owns 152,604 shares in the company, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares in the company, valued at approximately $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock worth $6,106,106 in the last three months. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synchrony Financial

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Synchrony Financial by 16.3% during the 1st quarter. GAMMA Investing LLC now owns 3,911 shares of the financial services provider's stock valued at $169,000 after purchasing an additional 547 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Synchrony Financial by 62.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 302,337 shares of the financial services provider's stock worth $13,037,000 after acquiring an additional 115,790 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Synchrony Financial during the 4th quarter worth $1,554,000. PNC Financial Services Group Inc. boosted its stake in shares of Synchrony Financial by 21.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 58,603 shares of the financial services provider's stock worth $2,238,000 after acquiring an additional 10,242 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Synchrony Financial by 8.2% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 11,872 shares of the financial services provider's stock worth $453,000 after acquiring an additional 900 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.