Synchrony Financial (NYSE:SYF) Sets New 52-Week High – What’s Next?

Synchrony Financial (NYSE:SYF) shares reached a new 52-week high on Friday . The company traded as high as $68.69 and last traded at $67.61, with a volume of 164536 shares. The stock had previously closed at $67.22.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYF. TD Cowen boosted their target price on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 17th. BTIG Research lowered Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Morgan Stanley raised their target price on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Evercore ISI boosted their price target on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.43.

Synchrony Financial Price Performance

The stock has a market cap of $26.27 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.93 and a beta of 1.59. The company’s 50 day moving average is $57.26 and its 200 day moving average is $50.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last announced its earnings results 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 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Synchrony Financial’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts forecast that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.48%. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.05%.

Insider Activity

In other news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial 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 directly owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its position in shares of Synchrony Financial by 23.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,078,596 shares of the financial services provider’s stock valued at $57,910,000 after purchasing an additional 203,663 shares during the period. Synovus Financial Corp boosted its holdings in shares of Synchrony Financial by 18.6% in the third quarter. Synovus Financial Corp now owns 9,459 shares of the financial services provider’s stock worth $472,000 after buying an additional 1,482 shares during the period. Tidal Investments LLC boosted its holdings in shares of Synchrony Financial by 88.3% in the third quarter. Tidal Investments LLC now owns 66,361 shares of the financial services provider’s stock worth $3,310,000 after buying an additional 31,124 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Synchrony Financial in the third quarter worth approximately $217,000. Finally, World Investment Advisors LLC purchased a new stake in shares of Synchrony Financial in the 3rd quarter valued at approximately $205,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

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.