Synchrony Financial (NYSE:SYF) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Synchrony Financial (NYSE:SYF) from a hold rating to a buy rating in a research report released on Thursday morning.

Several other equities analysts have also commented on SYF. JMP Securities increased their price objective on Synchrony Financial from $35.00 to $42.00 and gave the company a market outperform rating in a research report on Friday, January 12th. Bank of America increased their price objective on Synchrony Financial from $43.00 to $44.00 and gave the company a neutral rating in a research report on Thursday. BMO Capital Markets raised their price target on Synchrony Financial from $40.00 to $41.00 and gave the stock a market perform rating in a research report on Thursday. Barclays raised their price target on Synchrony Financial from $36.00 to $37.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Finally, Evercore ISI raised their price target on Synchrony Financial from $45.00 to $47.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial has an average rating of Hold and an average price target of $42.72.

Synchrony Financial Stock Down 0.8 %

Shares of NYSE SYF opened at $44.66 on Thursday. Synchrony Financial has a one year low of $26.59 and a one year high of $45.33. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.22. The business’s fifty day moving average price is $41.56 and its 200-day moving average price is $36.76. The stock has a market capitalization of $18.17 billion, a PE ratio of 6.41, a P/E/G ratio of 1.11 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same period in the prior year, the company earned $1.35 EPS. On average, equities research analysts anticipate that Synchrony Financial will post 5.57 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Friday, May 3rd. Synchrony Financial’s payout ratio is 14.35%.

Synchrony Financial declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the sale, the insider now owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the sale, the insider now owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the sale, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,158 shares of company stock worth $6,106,106. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

Large investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new stake in Synchrony Financial during the third quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after buying an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $55,000. Brown Brothers Harriman & Co. grew its stake in shares of Synchrony Financial by 56.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock valued at $55,000 after buying an additional 522 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $60,000. 96.48% of the stock is owned by institutional investors.

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.