Synchrony Financial (NYSE:SYF) Sets New 12-Month High at $47.83

Synchrony Financial (NYSE:SYF) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.83 and last traded at $47.64, with a volume of 94054 shares trading hands. The stock had previously closed at $47.19.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SYF shares. Evercore ISI boosted their price objective on Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Robert W. Baird started coverage on Synchrony Financial in a research report on Friday, June 28th. They issued an “outperform” rating and a $56.00 price objective for the company. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 price objective on shares of Synchrony Financial in a research report on Wednesday, June 12th. TD Cowen upped their price target on Synchrony Financial from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Barclays upped 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.10.

Synchrony Financial Trading Down 0.2 %

The business has a 50 day moving average of $44.23 and a two-hundred day moving average of $41.37. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. The firm has a market cap of $19.29 billion, a P/E ratio of 6.89, a PEG ratio of 1.10 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter last year, the company posted $1.35 EPS. Analysts predict that Synchrony Financial will post 5.71 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, May 3rd. Synchrony Financial’s payout ratio is 14.35%.

Synchrony Financial declared that its board has authorized a stock repurchase program on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the transaction, the insider now owns 121,042 shares in the company, valued at approximately $5,446,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Synchrony Financial

Several large investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its holdings in shares of Synchrony Financial by 24.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,629 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 317 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Synchrony Financial by 41.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,546 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 1,635 shares in the last quarter. Quent Capital LLC grew its holdings in shares of Synchrony Financial by 15.4% during the 1st quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 214 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Synchrony Financial by 1.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 285,918 shares of the financial services provider’s stock worth $11,958,000 after purchasing an additional 4,966 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Synchrony Financial by 66.6% during the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after purchasing an additional 2,548,180 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

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.