Synchrony Financial (NYSE:SYF) Price Target Raised to $72.50 at The Goldman Sachs Group

Synchrony Financial (NYSE:SYF) had its price target increased by The Goldman Sachs Group from $64.00 to $72.50 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price objective on shares of Synchrony Financial from $53.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Morgan Stanley raised their price target on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, August 9th. Finally, Robert W. Baird set a $62.00 target price on shares of Synchrony Financial in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

Synchrony Financial Trading Up 1.1 %

SYF opened at $65.14 on Tuesday. The firm has a market capitalization of $25.36 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.88 and a beta of 1.59. The firm’s 50 day moving average is $55.44 and its 200-day moving average is $49.58. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 52-week low of $29.15 and a 52-week high of $67.76.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the company posted $1.48 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Insider Buying and Selling at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Synchrony Financial in the 2nd quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new position in Synchrony Financial during the second quarter valued at approximately $33,000. WR Wealth Planners LLC lifted its stake in shares of Synchrony Financial by 83.6% in the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after buying an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Synchrony Financial during the 2nd quarter worth $39,000. Institutional investors and hedge funds 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.