Synchrony Financial Sees Unusually High Options Volume (NYSE:SYF)

Synchrony Financial (NYSE:SYF) saw some unusual options trading activity on Tuesday. Traders bought 20,113 put options on the company. Thisisanincreaseofapproximately694% compared to the typical daily volume of 2,534 put options.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Cfra Research raised shares of Synchrony Financial to a “hold” rating in a research report on Tuesday, April 22nd. Royal Bank Of Canada increased their price target on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group increased their price target on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Finally, Redburn Atlantic raised shares of Synchrony Financial to a “hold” rating in a research report on Friday, August 1st. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average price target of $74.05.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $72.34 on Wednesday. The firm has a market capitalization of $26.91 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.71 and a beta of 1.49. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $73.76. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. The firm’s 50 day moving average is $67.07 and its two-hundred day moving average is $60.17.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $1.72 by $0.78. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. Research analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, August 5th. Synchrony Financial’s dividend payout ratio is currently 14.56%.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Darrell Owens sold 600 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $67.95, for a total value of $40,770.00. Following the transaction, the insider owned 21,372 shares of the company’s stock, valued at $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total transaction of $595,980.00. Following the completion of the transaction, the insider directly owned 68,588 shares in the company, valued at $4,801,160. The trade was a 11.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,133 shares of company stock worth $3,817,635. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently modified their holdings of the business. Zions Bancorporation National Association UT purchased a new position in shares of Synchrony Financial during the first quarter worth approximately $30,000. True Wealth Design LLC grew its position in shares of Synchrony Financial by 5,787.5% during the second quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 463 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after buying an additional 455 shares during the last quarter. MAI Capital Management grew its position in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after buying an additional 167 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Synchrony Financial in the 1st quarter valued at $34,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

About Synchrony Financial

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.