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

Synchrony Financial (NYSE:SYF) had its target price lifted by Bank of America from $82.00 to $85.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other brokerages also recently weighed in on SYF. Robert W. Baird set a $62.00 target price on shares of Synchrony Financial in a research note on Thursday, October 17th. The Goldman Sachs Group increased their price objective on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price target on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, TD Cowen lifted their price objective on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Synchrony Financial Trading Down 4.6 %

SYF opened at $66.68 on Tuesday. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. Synchrony Financial has a 52 week low of $37.91 and a 52 week high of $70.93. The business’s 50 day moving average is $66.87 and its two-hundred day moving average is $57.01. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. On average, research analysts predict that Synchrony Financial will post 6.54 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s payout ratio is currently 13.05%.

Insiders Place Their Bets

In related news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC increased its position in Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 253 shares during the last quarter. Quarry LP increased its position in Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 675 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Synchrony Financial in the 3rd quarter valued at about $50,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 486 shares in the last quarter. 96.48% of the stock is currently 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.