Synchrony Financial (NYSE:SYF) Price Target Raised to $52.00 at JPMorgan Chase & Co.

Synchrony Financial (NYSE:SYFFree Report) had its price target raised by JPMorgan Chase & Co. from $46.00 to $52.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on SYF. BMO Capital Markets upped their price objective on shares of Synchrony Financial from $40.00 to $41.00 and gave the company a market perform rating in a research note on Thursday, April 25th. Baird R W raised shares of Synchrony Financial to a strong-buy rating in a research report on Friday, June 28th. Wells Fargo & Company upped their price target on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $62.00 price target on shares of Synchrony Financial in a research report on Tuesday, June 11th. Finally, BTIG Research initiated coverage on shares of Synchrony Financial in a research report on Friday, June 7th. They set a buy rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial presently has an average rating of Moderate Buy and an average price target of $45.38.

View Our Latest Analysis on Synchrony Financial

Synchrony Financial Stock Up 1.6 %

Shares of NYSE SYF opened at $47.67 on Monday. Synchrony Financial has a 12-month low of $27.30 and a 12-month high of $48.59. The company has a market capitalization of $19.14 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 1.09 and a beta of 1.63. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23. The firm’s 50-day moving average is $44.53 and its two-hundred day moving average is $41.72.

Synchrony Financial (NYSE:SYFGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same period in the previous year, the company posted $1.35 EPS. Equities analysts anticipate that Synchrony Financial will post 5.71 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Friday, May 3rd. Synchrony Financial’s payout ratio is 14.35%.

Synchrony Financial announced that its board has authorized a share buyback plan on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 31,562 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the completion of the sale, the insider now directly owns 121,042 shares of the company’s stock, valued at approximately $5,446,890. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in Synchrony Financial by 786.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,055 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 936 shares during the last quarter. DNB Asset Management AS boosted its stake in Synchrony Financial by 15.3% during the 2nd quarter. DNB Asset Management AS now owns 73,632 shares of the financial services provider’s stock valued at $3,475,000 after acquiring an additional 9,768 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in 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 valued at $77,000 after acquiring an additional 317 shares during the last quarter. GAMMA Investing LLC boosted its stake in Synchrony Financial by 41.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,546 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 1,635 shares during the last quarter. Finally, Quent Capital LLC boosted its stake in Synchrony Financial by 15.4% during the 1st quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 214 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Company Profile

(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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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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