Synchrony Financial (NYSE:SYF) Downgraded by BTIG Research

BTIG Research cut shares of Synchrony Financial (NYSE:SYF) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat reports.

A number of other brokerages have also recently commented on SYF. Wells Fargo & Company increased their price target on Synchrony Financial from $49.00 to $53.00 and gave the company an equal weight rating in a research note on Thursday, July 18th. BMO Capital Markets dropped their price target on Synchrony Financial from $42.00 to $41.00 and set a market perform rating for the company in a research note on Thursday, July 18th. Robert W. Baird started coverage on Synchrony Financial in a research report on Friday, June 28th. They set an outperform rating and a $56.00 target price for the company. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $62.00 target price on shares of Synchrony Financial in a research report on Tuesday, June 11th. Finally, Baird R W raised Synchrony Financial to a strong-buy rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $50.41.

Synchrony Financial Stock Down 0.6 %

NYSE SYF opened at $48.89 on Monday. The business has a fifty day moving average price of $48.31 and a two-hundred day moving average price of $45.20. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $52.67. The stock has a market capitalization of $19.63 billion, a PE ratio of 7.01, a PEG ratio of 1.09 and a beta of 1.62.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the company earned $1.32 EPS. Equities analysts expect that Synchrony Financial will post 5.79 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a $0.25 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Insider Activity

In other news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now directly owns 49,390 shares in the company, valued at approximately $2,510,987.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Synchrony Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of Synchrony Financial during the 1st quarter worth approximately $28,000. Altshuler Shaham Ltd bought a new position in shares of Synchrony Financial during the 2nd quarter worth approximately $31,000. International Assets Investment Management LLC bought a new position in shares of Synchrony Financial during the 2nd quarter worth approximately $33,000. WR Wealth Planners LLC lifted its position in shares of Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after buying an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Synchrony Financial during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

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.