Synchrony Financial (NYSE:SYF) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Synchrony Financial (NYSE:SYF) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other analysts have also issued reports on SYF. Oppenheimer reiterated a market perform rating on shares of Synchrony Financial in a research report on Wednesday, March 6th. Wells Fargo & Company boosted their price target on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. JMP Securities boosted their price target on shares of Synchrony Financial from $35.00 to $42.00 and gave the stock a market outperform rating in a research report on Friday, January 12th. Wolfe Research upgraded shares of Synchrony Financial from an underperform rating to an outperform rating and boosted their price target for the stock from $36.00 to $50.00 in a research report on Thursday, April 4th. Finally, Piper Sandler boosted their price target on shares of Synchrony Financial from $46.00 to $48.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Synchrony Financial currently has a consensus rating of Hold and a consensus price target of $41.44.

Synchrony Financial Stock Down 0.6 %

Shares of NYSE SYF opened at $39.68 on Wednesday. The company’s 50-day simple moving average is $41.12 and its 200-day simple moving average is $36.24. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $43.83. The firm has a market cap of $16.14 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the business earned $1.26 earnings per share. Equities analysts predict that Synchrony Financial will post 5.54 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s dividend payout ratio (DPR) is 19.31%.

Insider Activity

In other news, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the sale, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the sale, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,158 shares of company stock valued at $6,106,106. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several large investors have recently added to or reduced their stakes in SYF. Live Oak Investment Partners purchased a new stake in Synchrony Financial during the 4th quarter worth approximately $27,000. Exchange Traded Concepts LLC purchased a new stake in Synchrony Financial during the 3rd quarter worth approximately $35,000. Covestor Ltd increased its stake in Synchrony Financial by 138.8% during the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after buying an additional 644 shares during the period. Zions Bancorporation N.A. grew its holdings in Synchrony Financial by 230.5% during the 1st quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 855 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Synchrony Financial by 76.2% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 573 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

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.