Synchrony Financial to Issue Quarterly Dividend of $0.25 (NYSE:SYF)

Synchrony Financial (NYSE:SYF) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders of record on Monday, November 4th will be paid a dividend of 0.25 per share by the financial services provider on Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%.

Synchrony Financial has increased its dividend payment by an average of 2.9% per year over the last three years. Synchrony Financial has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Synchrony Financial to earn $6.34 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.8%.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $55.26 on Friday. The stock has a market capitalization of $22.19 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.22 and a beta of 1.61. The firm’s fifty day simple moving average is $50.01 and its 200-day simple moving average is $46.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.23. Synchrony Financial has a 12 month low of $27.42 and a 12 month high of $57.26.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. As a group, equities analysts forecast that Synchrony Financial will post 6.19 earnings per share for the current year.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the sale, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares of the company’s stock, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bart Schaller sold 930 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYF. TD Cowen upped their price target on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Barclays boosted their price target on shares of Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 17th. Finally, Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $56.25.

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.