Bank of America Issues Positive Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF) had its target price raised by Bank of America from $75.00 to $80.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on SYF. Barclays lowered their price target on Synchrony Financial from $81.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Morgan Stanley boosted their price objective on shares of Synchrony Financial from $48.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Wells Fargo & Company boosted their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. JMP Securities boosted their price objective on shares of Synchrony Financial from $68.00 to $77.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of Synchrony Financial from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Twelve research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and an average target price of $73.79.

Synchrony Financial Stock Up 1.9%

Shares of NYSE SYF opened at $76.14 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $28.33 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 0.75 and a beta of 1.49. The stock has a 50 day moving average price of $72.09 and a 200 day moving average price of $61.49. Synchrony Financial has a 52-week low of $40.54 and a 52-week high of $77.41.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.78. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.71 billion. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.Synchrony Financial’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 earnings per share. Synchrony Financial has set its FY 2025 guidance at EPS. Sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Synchrony Financial’s dividend payout ratio is presently 14.56%.

Insider Transactions at Synchrony Financial

In other news, insider Brian J. Sr. Wenzel sold 8,514 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $595,980.00. Following the transaction, the insider directly owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. This represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Darrell Owens sold 600 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $67.95, for a total value of $40,770.00. Following the transaction, the insider directly owned 21,372 shares in the company, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,494 shares of company stock valued at $1,376,450. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently made changes to their positions in the company. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new position in shares of Synchrony Financial in the 2nd quarter valued at $26,000. True Wealth Design LLC increased its position in shares of Synchrony Financial by 5,787.5% in the 2nd quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 463 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Synchrony Financial in the 2nd quarter valued at $39,000. Zions Bancorporation National Association UT acquired a new position in shares of Synchrony Financial in the 1st quarter valued at $30,000. Finally, Geneos Wealth Management Inc. increased its position in shares of 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 acquiring an additional 455 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

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.