Synchrony Financial (NYSE:SYF) Given New $46.00 Price Target at JPMorgan Chase & Co.

Synchrony Financial (NYSE:SYF) had its target price raised by JPMorgan Chase & Co. from $42.00 to $46.00 in a research report report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Synchrony Financial from a buy rating to a hold rating in a research report on Wednesday, April 17th. BMO Capital Markets cut shares of Synchrony Financial from an outperform rating to a market perform rating and set a $40.00 target price on the stock. in a research note on Wednesday, January 10th. Stephens raised their target price on shares of Synchrony Financial from $40.00 to $46.00 and gave the company an equal weight rating in a research note on Wednesday, January 24th. Oppenheimer reissued a market perform rating on shares of Synchrony Financial in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company raised their target price on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an equal weight rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Synchrony Financial currently has a consensus rating of Hold and an average target price of $42.72.

Synchrony Financial Stock Down 0.8 %

Synchrony Financial stock opened at $44.66 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.22 and a current ratio of 1.24. Synchrony Financial has a one year low of $26.59 and a one year high of $45.33. The company has a 50-day simple moving average of $41.56 and a 200-day simple moving average of $36.76. The firm has a market capitalization of $18.17 billion, a P/E ratio of 6.41, a P/E/G ratio of 1.11 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.19). The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter in the prior year, the business earned $1.35 earnings per share. As a group, equities analysts expect that Synchrony Financial will post 5.57 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.35%.

Synchrony Financial declared that its board has authorized a stock repurchase program on Wednesday, April 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the sale, the insider now directly owns 152,604 shares in the company, valued at $6,534,503.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the sale, the insider now owns 14,183 shares of the company’s stock, valued at $552,995.17. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock valued at $6,106,106 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Synchrony Financial

Several institutional investors have recently made changes to their positions in SYF. Exchange Traded Concepts LLC acquired a new stake in Synchrony Financial in the third quarter valued at approximately $35,000. Massmutual Trust Co. FSB ADV lifted its stake in Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Synchrony Financial in the fourth quarter valued at approximately $55,000. Brown Brothers Harriman & Co. lifted its stake in Synchrony Financial by 56.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 522 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in Synchrony Financial in the fourth quarter valued at approximately $60,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.