Synchrony Financial (NYSE:SYF) Sets New 12-Month High on Analyst Upgrade

Synchrony Financial (NYSE:SYF - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $52.00 to $80.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Synchrony Financial traded as high as $71.85 and last traded at $71.71, with a volume of 710644 shares trading hands. The stock had previously closed at $70.16.

Several other brokerages have also issued reports on SYF. The Goldman Sachs Group boosted their price objective on Synchrony Financial from $70.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Morgan Stanley upped their price target on Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wells Fargo & Company upped their price target on Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, Cfra Research raised Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $69.00.

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 40,639 shares of the 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 sale, the insider owned 146,628 shares in the company, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis Howse sold 11,380 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the sale, the insider owned 108,062 shares in the company, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Synchrony Financial

Large investors have recently added to or reduced their stakes in the business. TCTC Holdings LLC bought a new stake in Synchrony Financial in the 4th quarter valued at $27,000. Zions Bancorporation National Association UT bought a new stake in Synchrony Financial in the 1st quarter valued at $30,000. Geneos Wealth Management Inc. raised 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 valued at $31,000 after acquiring an additional 455 shares during the period. Accredited Wealth Management LLC bought a new stake in Synchrony Financial in the 4th quarter valued at $38,000. Finally, MAI Capital Management raised its stake in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 167 shares during the period. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Trading Down 0.8%

The business has a 50 day moving average of $61.65 and a two-hundred day moving average of $59.62. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11. The firm has a market cap of $26.86 billion, a P/E ratio of 9.68, a PEG ratio of 0.73 and a beta of 1.46.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm 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%. Analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $0.30 per share. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 annualized dividend and a yield of 1.70%. Synchrony Financial's dividend payout ratio (DPR) is presently 16.46%.

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.