Synchrony Financial (NYSE:SYF) Announces Quarterly Dividend of $0.30

Synchrony Financial (NYSE:SYF - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, RTT News reports. Shareholders of record on Tuesday, August 5th will be given a dividend of 0.30 per share by the financial services provider on Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, August 5th.

Synchrony Financial has a payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Synchrony Financial to earn $8.73 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 13.7%.

Synchrony Financial Trading Down 0.4%

Shares of Synchrony Financial stock traded down $0.27 on Thursday, reaching $71.81. 4,746,009 shares of the company's stock were exchanged, compared to its average volume of 4,164,634. The company has a market capitalization of $26.72 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $72.73. The firm's 50-day moving average is $63.77 and its two-hundred day moving average is $59.96. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.25 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The company had revenue of $3.65 billion for the quarter, compared to analysts' expectations of $3.71 billion. During the same period last year, the business earned $1.55 EPS. Synchrony Financial's quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SYF. JMP Securities increased their target price on Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a report on Thursday, July 17th. BTIG Research upgraded Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Monday, July 14th. Royal Bank Of Canada increased their target price on Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a report on Wednesday. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Cfra Research upgraded Synchrony Financial to a "hold" rating in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.17.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the sale, the insider directly owned 108,062 shares of the company's stock, valued at $7,024,030. This trade represents a 9.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the sale, the insider directly owned 146,628 shares of the company's stock, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Synchrony Financial

Several large investors have recently added to or reduced their stakes in SYF. NewEdge Advisors LLC increased its holdings in Synchrony Financial by 8.9% in the 1st quarter. NewEdge Advisors LLC now owns 8,302 shares of the financial services provider's stock worth $439,000 after acquiring an additional 679 shares during the last quarter. Woodline Partners LP increased its holdings in Synchrony Financial by 36.2% in the 1st quarter. Woodline Partners LP now owns 35,582 shares of the financial services provider's stock worth $1,884,000 after acquiring an additional 9,460 shares during the last quarter. Focus Partners Wealth boosted its stake in Synchrony Financial by 7.7% in the 1st quarter. Focus Partners Wealth now owns 6,406 shares of the financial services provider's stock worth $339,000 after purchasing an additional 459 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider's stock worth $31,000 after purchasing an additional 455 shares during the period. Hedge funds and other 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.