Synchrony Financial (NYSE:SYF) Upgraded to Buy at BTIG Research

BTIG Research upgraded shares of Synchrony Financial (NYSE:SYF - Free Report) from a neutral rating to a buy rating in a research report released on Monday, MarketBeat.com reports. BTIG Research currently has $100.00 price objective on the financial services provider's stock.

SYF has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday. Truist Financial raised their target price on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, June 13th. Wall Street Zen raised shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Barclays raised their price objective on Synchrony Financial from $62.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley upped their target price on Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Synchrony Financial currently has an average rating of "Moderate Buy" and an average target price of $70.63.

Synchrony Financial Trading Up 0.5%

SYF traded up $0.32 during mid-day trading on Monday, hitting $70.93. The stock had a trading volume of 2,559,673 shares, compared to its average volume of 4,193,980. The stock's fifty day simple moving average is $61.65 and its 200-day simple moving average is $59.62. The firm has a market capitalization of $27.00 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $71.88. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick 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 EPS 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 business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. As a group, research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial's dividend payout ratio is presently 16.46%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of the company'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 completion of the sale, the insider directly owned 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Curtis Howse sold 11,380 shares of Synchrony Financial 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 transaction, the insider owned 108,062 shares in the company, valued at approximately $7,024,030. The trade was 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 Trading of Synchrony Financial

Several large investors have recently bought and sold shares of the business. TCTC Holdings LLC bought a new position in shares of Synchrony Financial in the fourth quarter worth about $27,000. Zions Bancorporation National Association UT acquired a new stake in Synchrony Financial in the first quarter valued at approximately $30,000. Geneos Wealth Management Inc. increased its holdings in shares of Synchrony Financial by 337.0% during the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider's stock worth $31,000 after buying an additional 455 shares in the last quarter. MAI Capital Management lifted its stake in shares of 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 last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Synchrony Financial during the 1st quarter valued at $34,000. 96.48% of the stock is owned by institutional investors and hedge funds.

About Synchrony Financial

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.