Synchrony Financial (NYSE:SYF) Price Target Cut to $36.00 by Analysts at JPMorgan Chase & Co.

Synchrony Financial (NYSE:SYFGet Rating) had its price objective trimmed by JPMorgan Chase & Co. from $39.00 to $36.00 in a research note published on Tuesday morning, The Fly reports.

SYF has been the subject of a number of other reports. UBS Group initiated coverage on Synchrony Financial in a research report on Monday, November 21st. They issued a neutral rating and a $42.00 target price for the company. Piper Sandler decreased their target price on Synchrony Financial from $41.00 to $40.00 and set an overweight rating for the company in a research report on Monday, September 26th. Bank of America cut Synchrony Financial from a buy rating to a neutral rating in a research report on Tuesday, December 13th. The Goldman Sachs Group upped their target price on Synchrony Financial from $35.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, October 26th. Finally, Barclays cut Synchrony Financial from an overweight rating to an equal weight rating and decreased their price objective for the stock from $41.00 to $38.00 in a research report on Friday, January 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $38.93.

Synchrony Financial Trading Up 1.7 %

NYSE:SYF opened at $32.84 on Tuesday. The stock has a 50-day simple moving average of $34.74 and a 200-day simple moving average of $33.07. The stock has a market cap of $14.80 billion, a P/E ratio of 5.20, a P/E/G ratio of 0.92 and a beta of 1.61. Synchrony Financial has a 1 year low of $27.22 and a 1 year high of $50.20. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.21 and a current ratio of 1.21.

Synchrony Financial (NYSE:SYFGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Synchrony Financial had a return on equity of 25.56% and a net margin of 19.47%. As a group, analysts anticipate that Synchrony Financial will post 5.93 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Tuesday, November 1st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Monday, October 31st. Synchrony Financial’s dividend payout ratio (DPR) is 14.56%.

Insider Transactions at Synchrony Financial

In other news, insider Margaret M. Keane sold 68,369 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $36.50, for a total transaction of $2,495,468.50. Following the completion of the transaction, the insider now directly owns 762,786 shares of the company’s stock, valued at approximately $27,841,689. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Margaret M. Keane sold 68,369 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $36.50, for a total value of $2,495,468.50. Following the completion of the transaction, the insider now directly owns 762,786 shares of the company’s stock, valued at approximately $27,841,689. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carol Juel sold 31,303 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $40.00, for a total value of $1,252,120.00. Following the completion of the transaction, the insider now directly owns 55,929 shares of the company’s stock, valued at $2,237,160. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently bought and sold shares of the company. First Trust Advisors LP increased its position in Synchrony Financial by 853.5% during the first quarter. First Trust Advisors LP now owns 6,218,641 shares of the financial services provider’s stock worth $216,471,000 after buying an additional 5,566,481 shares in the last quarter. Cooke & Bieler LP increased its position in Synchrony Financial by 19,813.0% during the second quarter. Cooke & Bieler LP now owns 2,441,336 shares of the financial services provider’s stock worth $67,430,000 after buying an additional 2,429,076 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Synchrony Financial by 380.6% during the second quarter. Assenagon Asset Management S.A. now owns 2,470,561 shares of the financial services provider’s stock worth $68,237,000 after buying an additional 1,956,492 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Synchrony Financial during the first quarter worth $61,172,000. Finally, AQR Capital Management LLC increased its position in Synchrony Financial by 190.4% during the second quarter. AQR Capital Management LLC now owns 2,287,032 shares of the financial services provider’s stock worth $62,367,000 after buying an additional 1,499,472 shares in the last quarter. 95.97% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Company Profile

(Get Rating)

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.

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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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