Shares of Synchrony Financial (NYSE:SYF) have been assigned an average rating of “Buy” from the twenty-eight research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $37.31.
SYF has been the topic of several recent research reports. TheStreet cut Synchrony Financial from a “b” rating to a “c+” rating in a report on Wednesday, May 3rd. BidaskClub cut Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Synchrony Financial in a report on Sunday, April 30th. ValuEngine cut Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC restated a “buy” rating and set a $40.00 target price on shares of Synchrony Financial in a report on Friday, June 9th.
Shares of Synchrony Financial (SYF) opened at 29.32 on Monday. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The stock’s 50 day moving average price is $29.83 and its 200 day moving average price is $31.82. The stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of 11.01 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the firm posted $0.58 EPS. Analysts expect that Synchrony Financial will post $2.60 EPS for the current year.
Synchrony Financial declared that its board has initiated a stock repurchase plan on Thursday, May 18th that authorizes the company to repurchase $1.64 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, August 3rd. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.13. Synchrony Financial’s dividend payout ratio is 22.64%.
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In related news, Director Paget Leonard Alves acquired 2,000 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was bought at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the completion of the purchase, the director now directly owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.03% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SYF. Rehmann Capital Advisory Group increased its position in Synchrony Financial by 0.3% in the first quarter. Rehmann Capital Advisory Group now owns 8,749 shares of the financial services provider’s stock valued at $300,000 after buying an additional 22 shares in the last quarter. Bbva Compass Bancshares Inc. increased its stake in shares of Synchrony Financial by 0.3% in the second quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock valued at $954,000 after buying an additional 94 shares during the period. ING Groep NV increased its stake in shares of Synchrony Financial by 0.4% in the second quarter. ING Groep NV now owns 39,434 shares of the financial services provider’s stock valued at $1,176,000 after buying an additional 140 shares during the period. Patten Group Inc. increased its stake in shares of Synchrony Financial by 2.0% in the first quarter. Patten Group Inc. now owns 8,435 shares of the financial services provider’s stock valued at $280,000 after buying an additional 165 shares during the period. Finally, Federated Investors Inc. PA increased its stake in shares of Synchrony Financial by 0.6% in the second quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock valued at $786,000 after buying an additional 166 shares during the period. Institutional investors own 89.61% of the company’s stock.
Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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