Synchrony Financial (NYSE:SYF) Rating Increased to Buy at BTIG Research

BTIG Research upgraded shares of Synchrony Financial (NYSE:SYF) from a neutral rating to a buy rating in a research note issued to investors on Monday, MarketBeat.com reports. BTIG Research currently has $100.00 price objective on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company increased their price target on shares of Synchrony Financial from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Truist Financial raised their target price on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, June 13th. Evercore ISI lowered their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Cfra Research raised shares of Synchrony Financial to a “hold” rating in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group raised their target price on shares of Synchrony Financial from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus price target of $70.63.

Synchrony Financial Stock Up 0.5%

Shares of NYSE SYF opened at $70.93 on Monday. The company has a market capitalization of $27.00 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $71.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. The company’s 50 day moving average price is $61.99 and its 200-day moving average price is $59.66.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. Equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.69%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.25. Synchrony Financial’s dividend payout ratio is currently 16.46%.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 40,639 shares of the firm’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the sale, the insider owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the transaction, the insider owned 108,062 shares of the company’s stock, valued at $7,024,030. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Synchrony Financial

Hedge funds have recently modified their holdings of the company. MAI Capital Management lifted its position in shares of Synchrony Financial by 36.3% during the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 167 shares in the last quarter. Covestor Ltd lifted its position in shares of Synchrony Financial by 6.0% during the fourth quarter. Covestor Ltd now owns 3,085 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 174 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Synchrony Financial by 0.8% during the first quarter. Benjamin Edwards Inc. now owns 25,806 shares of the financial services provider’s stock worth $1,366,000 after purchasing an additional 197 shares in the last quarter. Horizon Investments LLC lifted its position in shares of Synchrony Financial by 3.7% during the first quarter. Horizon Investments LLC now owns 5,603 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 198 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its position in shares of Synchrony Financial by 2.0% during the fourth quarter. Gotham Asset Management LLC now owns 11,505 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 226 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Company Profile

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.