Synchrony Financial (NYSE:SYF) Receives Market Outperform Rating from JMP Securities

by · The Markets Daily

JMP Securities reissued their market outperform rating on shares of Synchrony Financial (NYSE:SYF – Free Report) in a research note published on Monday, Benzinga reports. JMP Securities currently has a $60.00 target price on the financial services provider’s stock.

SYF has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Evercore ISI decreased their price target on Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Wells Fargo & Company raised their price objective on shares of Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. BMO Capital Markets decreased their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a research note on Thursday, July 18th. Finally, Compass Point began coverage on shares of Synchrony Financial in a research report on Tuesday, July 16th. They set a “buy” rating and a $56.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

View Our Latest Report on Synchrony Financial

Synchrony Financial Price Performance

NYSE SYF opened at $56.53 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. The stock’s fifty day moving average price is $49.02 and its 200 day moving average price is $46.43. The company has a market cap of $22.70 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.21 and a beta of 1.61. Synchrony Financial has a 1 year low of $27.30 and a 1 year high of $56.59.

Synchrony Financial (NYSE:SYF – Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.35 by $0.20. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the business posted $1.32 EPS. As a group, equities research analysts forecast that Synchrony Financial will post 5.81 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Monday, August 5th. Synchrony Financial’s dividend payout ratio (DPR) is 14.35%.

Insider Transactions at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boston Partners increased its holdings in Synchrony Financial by 66.6% in the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock valued at $274,892,000 after purchasing an additional 2,548,180 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Synchrony Financial by 402.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider’s stock valued at $71,739,000 after acquiring an additional 1,217,872 shares during the last quarter. AQR Capital Management LLC increased its stake in Synchrony Financial by 14.6% in the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock valued at $264,917,000 after purchasing an additional 727,649 shares during the last quarter. Nordea Investment Management AB raised its stake in Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after acquiring an additional 674,366 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Synchrony Financial by 400.2% in the 2nd quarter. Acadian Asset Management LLC now owns 842,539 shares of the financial services provider’s stock valued at $39,751,000 after purchasing an additional 674,093 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

About Synchrony Financial

(Get Free Report)

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.

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