JPMorgan Chase & Co. Lowers Synchrony Financial (NYSE:SYF) Price Target to $50.00

Synchrony Financial (NYSE:SYF) had its target price lowered by JPMorgan Chase & Co. from $76.00 to $50.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also commented on the stock. Royal Bank of Canada increased their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company decreased their price target on shares of Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Compass Point lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a report on Tuesday, January 28th. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Finally, UBS Group boosted their price target on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.11.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $43.78 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $17.02 billion, a price-to-earnings ratio of 5.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. The firm has a 50 day moving average of $57.75 and a 200 day moving average of $60.50. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, sell-side analysts predict that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC lifted its holdings in shares of Synchrony Financial by 2.3% in the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 160 shares in the last quarter. Covestor Ltd grew its holdings in Synchrony Financial by 6.0% in the 4th quarter. Covestor Ltd now owns 3,085 shares of the financial services provider’s stock valued at $200,000 after buying an additional 174 shares during the period. Gladstone Institutional Advisory LLC increased its position in Synchrony Financial by 1.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 176 shares during the last quarter. Smithfield Trust Co raised its position in shares of Synchrony Financial by 19.7% in the 4th quarter. Smithfield Trust Co now owns 1,099 shares of the financial services provider’s stock worth $69,000 after buying an additional 181 shares during the period. Finally, Wedmont Private Capital lifted its stake in shares of Synchrony Financial by 2.6% in the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 192 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

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.