Synchrony Financial (NYSE:SYF) Cut to Hold at Baird R W

Baird R W lowered shares of Synchrony Financial (NYSE:SYF) from a strong-buy rating to a hold rating in a report issued on Friday morning,Zacks.com reports.

Several other research analysts also recently commented on SYF. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $75.00 target price (down from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. Wall Street Zen downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Truist Financial reduced their price objective on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Bank of America upped their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Finally, BTIG Research restated a “buy” rating and set a $100.00 target price on shares of Synchrony Financial in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.41.

Synchrony Financial Stock Down 0.0%

Synchrony Financial stock opened at $80.37 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50-day moving average is $73.66 and its 200-day moving average is $70.58. The firm has a market capitalization of $28.95 billion, a PE ratio of 8.77, a P/E/G ratio of 0.56 and a beta of 1.46. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $80.65.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.64. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. Synchrony Financial’s revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $1.94 EPS. Sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial declared that its board has approved a share repurchase program on Wednesday, October 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, November 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, November 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.10%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Darrell Owens sold 2,989 shares of Synchrony Financial stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $221,245.78. Following the completion of the sale, the insider directly owned 16,096 shares in the company, valued at approximately $1,191,425.92. The trade was a 15.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis Howse sold 12,086 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $894,605.72. Following the completion of the sale, the insider owned 108,271 shares of the company’s stock, valued at approximately $8,014,219.42. This trade represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 55,075 shares of company stock worth $4,036,892. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Synchrony Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. grew its holdings in shares of Synchrony Financial by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 358 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 179 shares in the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in Synchrony Financial during the second quarter worth about $26,000. FWL Investment Management LLC bought a new stake in Synchrony Financial during the third quarter worth about $26,000. Salomon & Ludwin LLC grew its stake in Synchrony Financial by 54.9% during the third quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider’s stock worth $29,000 after buying an additional 146 shares in the last quarter. Finally, Palisade Asset Management LLC bought a new position in Synchrony Financial in the 3rd quarter valued at about $29,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Company Profile

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.