Synchrony Financial (NYSE:SYF) Hits New 12-Month High Following Analyst Upgrade

Synchrony Financial (NYSE:SYF - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $48.00 to $70.00. Morgan Stanley currently has an equal weight rating on the stock. Synchrony Financial traded as high as $71.85 and last traded at $71.71, with a volume of 710644 shares changing hands. The stock had previously closed at $70.16.

Several other research firms have also recently weighed in on SYF. Barclays upped their price objective on Synchrony Financial from $62.00 to $81.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wells Fargo & Company upped their price objective on Synchrony Financial from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Truist Financial increased their target price on Synchrony Financial from $63.00 to $68.00 and gave the stock a "hold" rating in a research note on Friday, June 13th. Finally, JPMorgan Chase & Co. reduced their price target 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Synchrony Financial has an average rating of "Moderate Buy" and an average target price of $67.33.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the sale, the insider owned 146,628 shares of the company's stock, valued at $8,807,943.96. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the firm's 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 sale, the insider directly 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. Company insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in Synchrony Financial by 30.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock worth $3,895,000 after purchasing an additional 17,061 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in Synchrony Financial during the 1st quarter worth $11,506,000. BTC Capital Management Inc. raised its position in Synchrony Financial by 25.9% during the 1st quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock worth $3,485,000 after purchasing an additional 13,526 shares during the last quarter. Merit Financial Group LLC raised its position in Synchrony Financial by 70.2% during the 1st quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock worth $564,000 after purchasing an additional 4,397 shares during the last quarter. Finally, Clarius Group LLC bought a new position in Synchrony Financial during the 1st quarter worth $242,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Stock Performance

The company has a 50-day moving average of $61.32 and a 200-day moving average of $59.69. 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 capitalization of $27.11 billion, a P/E ratio of 9.77, a price-to-earnings-growth 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. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. On average, equities analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.68%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial's payout ratio 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.