Synchrony Financial (NYSE:SYF – Get Rating) had its price objective decreased by Piper Sandler from $41.00 to $40.00 in a research note published on Monday morning, The Fly reports. Piper Sandler currently has an overweight rating on the financial services provider's stock.
A number of other research firms have also recently issued reports on SYF. Wells Fargo & Company cut shares of Synchrony Financial from an overweight rating to an equal weight rating and dropped their price target for the company from $45.00 to $32.00 in a research note on Wednesday, July 13th. Barclays decreased their price objective on Synchrony Financial from $64.00 to $49.00 and set an overweight rating on the stock in a report on Monday, July 11th. StockNews.com lowered Synchrony Financial from a buy rating to a hold rating in a report on Thursday, August 25th. Keefe, Bruyette & Woods decreased their price objective on Synchrony Financial from $59.00 to $46.00 in a report on Monday, July 11th. Finally, Morgan Stanley decreased their price objective on Synchrony Financial from $40.00 to $31.00 and set an equal weight rating on the stock in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $43.93.
Get Synchrony Financial alerts:Synchrony Financial Price Performance
Synchrony Financial stock opened at $28.21 on Monday. The company's fifty day moving average price is $33.10 and its 200 day moving average price is $33.92. Synchrony Financial has a 1 year low of $27.22 and a 1 year high of $52.49. The stock has a market capitalization of $13.59 billion, a P/E ratio of 4.12, a P/E/G ratio of 0.22 and a beta of 1.56. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.21 and a current ratio of 1.21.
Synchrony Financial (NYSE:SYF – Get Rating) last released its quarterly earnings results on Monday, July 18th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.17. Synchrony Financial had a net margin of 22.76% and a return on equity of 27.06%. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $2.74 billion. During the same quarter last year, the company earned $2.12 EPS. As a group, equities research analysts anticipate that Synchrony Financial will post 5.79 earnings per share for the current fiscal year.Synchrony Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 1st were issued a $0.23 dividend. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, July 29th. Synchrony Financial's payout ratio is 13.43%.
Institutional Investors Weigh In On Synchrony Financial
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Synchrony Financial by 2.4% during the 1st quarter. BlackRock Inc. now owns 47,846,561 shares of the financial services provider's stock worth $1,665,537,000 after purchasing an additional 1,102,772 shares during the period. State Street Corp boosted its position in shares of Synchrony Financial by 1.2% during the 4th quarter. State Street Corp now owns 26,545,656 shares of the financial services provider's stock worth $1,231,453,000 after purchasing an additional 313,449 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Synchrony Financial by 5.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 8,547,277 shares of the financial services provider's stock worth $236,077,000 after purchasing an additional 423,606 shares during the period. Dimensional Fund Advisors LP boosted its position in Synchrony Financial by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,971,125 shares of the financial services provider's stock valued at $242,720,000 after buying an additional 470,937 shares during the period. Finally, First Trust Advisors LP boosted its position in Synchrony Financial by 853.5% in the 1st quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services provider's stock valued at $216,471,000 after buying an additional 5,566,481 shares during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.
About Synchrony Financial
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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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.
Further Reading
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