Synchrony Financial (NYSE:SYF) Announces $0.25 Quarterly Dividend

Synchrony Financial (NYSE:SYF) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Shareholders of record on Monday, November 4th will be given a dividend of 0.25 per share by the financial services provider on Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, November 4th.

Synchrony Financial has raised its dividend payment by an average of 2.9% per year over the last three years. Synchrony Financial has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Synchrony Financial to earn $6.42 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 15.6%.

Synchrony Financial Trading Up 0.2 %

Shares of SYF opened at $55.25 on Friday. Synchrony Financial has a twelve month low of $28.24 and a twelve month high of $57.37. 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’s fifty day simple moving average is $51.19 and its 200-day simple moving average is $47.65. The company has a market cap of $21.51 billion, a P/E ratio of 7.21, a P/E/G ratio of 1.09 and a beta of 1.59.

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

Insider Buying and Selling at Synchrony Financial

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYF. Wells Fargo & Company boosted their target price on shares of Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Robert W. Baird set a $62.00 target price on shares of Synchrony Financial in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $60.00 price objective on shares of Synchrony Financial in a research note on Monday, October 14th. Finally, 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. One 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.60.

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.