Synchrony Financial (NYSE:SYF) Price Target Raised to $65.00 at Evercore ISI

Synchrony Financial (NYSE:SYF) had its price objective lifted by Evercore ISI from $58.00 to $65.00 in a research report sent to investors on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also weighed in on SYF. Royal Bank of Canada boosted their price target on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price target on Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, August 9th. Finally, Jefferies Financial Group boosted their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.60.

Synchrony Financial Stock Up 0.2 %

Shares of Synchrony Financial stock opened at $55.25 on Wednesday. The business’s 50 day simple moving average is $51.19 and its 200 day simple moving average is $47.65. Synchrony Financial has a 52-week low of $28.24 and a 52-week high of $57.37. The firm has a market cap of $21.51 billion, a PE ratio of 7.21, a P/E/G ratio of 1.09 and a beta of 1.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. Synchrony Financial’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 EPS. On average, analysts predict that Synchrony Financial will post 6.28 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.81%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Insider Activity at Synchrony Financial

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Synchrony Financial

A number of institutional investors have recently modified their holdings of the stock. Kerusso Capital Management LLC lifted its position in shares of Synchrony Financial by 6.4% during the 3rd quarter. Kerusso Capital Management LLC now owns 78,002 shares of the financial services provider’s stock valued at $3,891,000 after acquiring an additional 4,713 shares during the period. Assetmark Inc. lifted its position in shares of Synchrony Financial by 2.2% during the 3rd quarter. Assetmark Inc. now owns 1,319,623 shares of the financial services provider’s stock valued at $65,823,000 after acquiring an additional 28,020 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of Synchrony Financial by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 35,893 shares of the financial services provider’s stock valued at $1,790,000 after acquiring an additional 3,333 shares during the period. SpiderRock Advisors LLC lifted its position in shares of Synchrony Financial by 45.6% during the 3rd quarter. SpiderRock Advisors LLC now owns 14,103 shares of the financial services provider’s stock valued at $703,000 after acquiring an additional 4,420 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of Synchrony Financial during the 3rd quarter valued at $2,465,000. 96.48% of the stock is currently owned by 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.