Synchrony Financial (NYSE:SYF) Given New $62.00 Price Target at Royal Bank of Canada

Synchrony Financial (NYSE:SYF) had its price objective raised by Royal Bank of Canada from $55.00 to $62.00 in a research report released on Thursday, Benzinga reports. The firm currently has a sector perform rating on the financial services provider’s stock.

SYF has been the topic of a number of other reports. Robert W. Baird started coverage on shares of Synchrony Financial in a research report on Friday, June 28th. They issued an “outperform” rating and a $56.00 price target on the stock. Evercore ISI cut their target price on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Wells Fargo & Company upped their price objective on shares of Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of Synchrony Financial in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.95.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $56.70 on Thursday. The firm has a fifty day moving average of $49.23 and a two-hundred day moving average of $46.50. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 1.26 and a beta of 1.61. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $57.26.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts predict that Synchrony Financial will post 5.81 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s dividend payout ratio is currently 13.89%.

Insiders Place Their Bets

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bart Schaller sold 930 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Trading of Synchrony Financial

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in shares of Synchrony Financial during the first quarter worth approximately $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 bought a new position in Synchrony Financial during the 2nd quarter worth $33,000. WR Wealth Planners LLC raised its holdings 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 valued at $34,000 after acquiring an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Synchrony Financial during the 2nd quarter valued at $39,000. Institutional investors own 96.48% of the company’s stock.

About Synchrony Financial

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.