Synchrony Financial (NYSE:SYF) Price Target Increased to $55.00 by Analysts at Jefferies Financial Group

Synchrony Financial (NYSE:SYFFree Report) had its price objective lifted by Jefferies Financial Group from $50.00 to $55.00 in a research report sent to investors on Tuesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also recently commented on SYF. Barclays increased their price target on Synchrony Financial from $37.00 to $46.00 and gave the company an equal weight rating in a research report on Tuesday. Bank of America boosted their target price on shares of Synchrony Financial from $43.00 to $44.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Morgan Stanley reiterated an underweight rating and issued a $30.00 price target on shares of Synchrony Financial in a research note on Wednesday, June 12th. Wells Fargo & Company boosted their price objective on shares of Synchrony Financial from $45.00 to $49.00 and gave the stock an equal weight rating in a research note on Tuesday. Finally, Wolfe Research upgraded shares of Synchrony Financial from an underperform rating to an outperform rating and raised their target price for the company from $36.00 to $50.00 in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial has an average rating of Moderate Buy and an average target price of $46.41.

View Our Latest Research Report on SYF

Synchrony Financial Price Performance

Shares of SYF opened at $48.46 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $48.97. The stock has a market capitalization of $19.46 billion, a P/E ratio of 6.95, a P/E/G ratio of 1.09 and a beta of 1.63. The company has a 50 day moving average of $44.62 and a 200-day moving average of $41.79.

Synchrony Financial (NYSE:SYFGet Free Report) last released its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the business posted $1.35 EPS. As a group, equities research analysts forecast that Synchrony Financial will post 5.71 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Monday, May 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.35%.

Synchrony Financial declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Curtis Howse sold 31,562 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total value of $1,420,290.00. Following the transaction, the insider now owns 121,042 shares in the company, valued at $5,446,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Synchrony Financial

Several large investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in Synchrony Financial during the first quarter worth $28,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Synchrony Financial by 44.1% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after buying an additional 390 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of 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 worth $50,000 after buying an additional 936 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Synchrony Financial during the 4th quarter worth $55,000. Finally, Brown Brothers Harriman & Co. boosted its stake in Synchrony Financial by 56.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock valued at $55,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

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 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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