Evercore ISI Issues Positive Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF) had its price target hoisted by Evercore ISI from $58.00 to $65.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Royal Bank of Canada boosted their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. TD Cowen raised their price objective on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays boosted their target price on Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, JMP Securities reiterated a “market outperform” rating and set a $60.00 price target on shares of Synchrony Financial in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.60.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $55.25 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $51.19 and a 200-day simple moving average of $47.59. The stock has a market cap of $21.51 billion, a P/E ratio of 7.21, a price-to-earnings-growth ratio of 1.09 and a beta of 1.59. Synchrony Financial has a 12-month low of $28.24 and a 12-month high of $57.37.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the business earned $1.48 EPS. Synchrony Financial’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts expect that Synchrony Financial will post 6.28 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.81%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.05%.

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of Synchrony Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in Synchrony Financial in the 1st quarter valued at about $28,000. Altshuler Shaham Ltd acquired a new stake in Synchrony Financial during the second quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new stake in Synchrony Financial during the second quarter worth approximately $33,000. WR Wealth Planners LLC grew its stake in Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Synchrony Financial in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

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.