Synchrony Financial (SYF) Plans Quarterly Dividend of $0.15
Synchrony Financial (NYSE:SYF) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Monday, November 6th will be paid a dividend of 0.15 per share by the financial services provider on Thursday, November 16th. This represents a $0.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Friday, November 3rd.
Synchrony Financial has a payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Synchrony Financial to earn $3.24 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 18.5%.
Shares of Synchrony Financial (NYSE SYF) traded up 1.51% during trading on Thursday, hitting $32.87. The stock had a trading volume of 4,939,360 shares. The stock’s 50-day moving average price is $30.59 and its 200 day moving average price is $29.89. The firm has a market capitalization of $26.14 billion, a P/E ratio of 12.34 and a beta of 1.01. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $38.06.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the firm earned $0.73 EPS. On average, analysts anticipate that Synchrony Financial will post $2.61 earnings per share for the current year.
In other news, insider Jonathan S. Mothner sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $33.50, for a total transaction of $33,500.00. Following the completion of the transaction, the insider now owns 113,578 shares in the company, valued at $3,804,863. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.
A number of brokerages recently commented on SYF. Barclays PLC set a $40.00 target price on Synchrony Financial and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company raised their price target on Synchrony Financial from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Monday. Zacks Investment Research raised Synchrony Financial from a “strong sell” rating to a “hold” rating in a report on Monday. Morgan Stanley raised their price target on Synchrony Financial from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday. Finally, JMP Securities raised their price target on Synchrony Financial from $35.00 to $37.00 and gave the company a “market outperform” rating in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $36.63.
About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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