Synchrony Financial’s Quiet Period Set To End on September 9th (NYSE:SYF)
Synchrony Financial’s (NYSE:SYF) quiet period is set to end on Tuesday, September 9th. Synchrony Financial had issued 125,000,000 shares in its initial public offering on July 31st, ARN reports. The total size of the offering was $2,875,000,000 based on an initial share price of $23.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Separately, analysts at BTIG Research initiated coverage on shares of Synchrony Financial in a research note on Thursday, July 31st. They set a “buy” rating and a $30.00 price target on the stock.
Synchrony Financial (NYSE:SYF) traded down 0.23% on Thursday, hitting $25.73. The stock had a trading volume of 96,334 shares. Synchrony Financial has a 52-week low of $22.60 and a 52-week high of $25.997. The stock has a 50-day moving average of $24.09 and a 200-day moving average of $24.09. The company has a market cap of $21.363 billion and a price-to-earnings ratio of 10.92.
Synchrony Financial (NYSE:SYF) is a consumer financial services companies in the United States.
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