Synchrony Financial (NYSE:SYF) Hits New 12-Month High at $37.28

Shares of Synchrony Financial (NYSE:SYF) reached a new 52-week high on Thursday . The company traded as high as $37.28 and last traded at $37.00, with a volume of 30314 shares. The stock had previously closed at $36.82.

A number of equities research analysts have weighed in on SYF shares. ValuEngine downgraded Synchrony Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Buckingham Research started coverage on Synchrony Financial in a report on Monday, July 22nd. They set a “buy” rating and a $42.00 price objective on the stock. BMO Capital Markets set a $43.00 price objective on Synchrony Financial and gave the company a “buy” rating in a report on Sunday, July 21st. Oppenheimer set a $39.00 price objective on Synchrony Financial and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, BTIG Research reaffirmed a “buy” rating and set a $42.00 price objective on shares of Synchrony Financial in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.92.

The company has a quick ratio of 1.26, a current ratio of 1.38 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $34.24 and a two-hundred day simple moving average of $34.30. The company has a market capitalization of $23.88 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.91 and a beta of 1.16.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, October 18th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.33 billion. Synchrony Financial had a return on equity of 20.05% and a net margin of 19.54%. During the same period in the previous year, the business earned $0.91 EPS. As a group, equities analysts predict that Synchrony Financial will post 4.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 1st. Synchrony Financial’s payout ratio is currently 23.53%.

In other news, Director Will W. Graylin sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $33.71, for a total value of $252,825.00. Following the transaction, the director now directly owns 76,662 shares of the company’s stock, valued at approximately $2,584,276.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Miracle Mile Advisors LLC boosted its holdings in shares of Synchrony Financial by 3.5% in the 3rd quarter. Miracle Mile Advisors LLC now owns 143,826 shares of the financial services provider’s stock worth $4,903,000 after acquiring an additional 4,818 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Synchrony Financial in the 3rd quarter worth approximately $154,000. D.A. Davidson & CO. boosted its holdings in shares of Synchrony Financial by 0.7% in the 3rd quarter. D.A. Davidson & CO. now owns 204,471 shares of the financial services provider’s stock worth $6,970,000 after acquiring an additional 1,489 shares in the last quarter. BBVA USA Bancshares Inc. acquired a new position in shares of Synchrony Financial in the 3rd quarter worth approximately $224,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Synchrony Financial by 3.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,940,600 shares of the financial services provider’s stock worth $66,155,000 after acquiring an additional 59,731 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Company Profile (NYSE:SYF)

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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