Synchrony Financial (NYSE:SYF) Stock Price Expected to Rise, Barclays Analyst Says

Synchrony Financial (NYSE:SYF - Free Report) had its price objective upped by Barclays from $62.00 to $81.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the financial services provider's stock.

SYF has been the topic of several other research reports. Truist Financial increased their price target on Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a report on Friday, June 13th. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. The Goldman Sachs Group increased their price target on Synchrony Financial from $70.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company raised their price objective on Synchrony Financial from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.89.

Synchrony Financial Price Performance

Shares of SYF traded up $1.03 during mid-day trading on Tuesday, hitting $70.32. 3,347,807 shares of the stock were exchanged, compared to its average volume of 3,871,086. The company has a market cap of $26.77 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.72 and a beta of 1.46. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $70.93. The firm has a 50-day moving average of $60.58 and a two-hundred day moving average of $59.58. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. On average, equities analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's payout ratio is 16.46%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the business'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 transaction, the insider owned 108,062 shares of the company's stock, valued at approximately $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction on 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 transaction, the insider directly owned 146,628 shares in the company, valued at $8,807,943.96. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On Synchrony Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Synchrony Financial during the second quarter worth $2,128,000. Balefire LLC purchased a new stake in Synchrony Financial in the second quarter valued at $275,000. Riversedge Advisors LLC purchased a new stake in Synchrony Financial in the second quarter valued at $278,000. Czech National Bank raised its position in Synchrony Financial by 4.2% in the second quarter. Czech National Bank now owns 93,060 shares of the financial services provider's stock valued at $6,211,000 after purchasing an additional 3,771 shares during the period. Finally, Parallel Advisors LLC raised its position in Synchrony Financial by 2.5% in the second quarter. Parallel Advisors LLC now owns 26,480 shares of the financial services provider's stock valued at $1,767,000 after purchasing an additional 647 shares during the period. Institutional investors and hedge funds 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.