Synchrony Financial (SYF) To Go Ex-Dividend on May 5th

Synchrony Financial (NYSE:SYF) declared a quarterly dividend on Wednesday, April 23rd, Wall Street Journal reports. Stockholders of record on Monday, May 5th will be paid a dividend of 0.30 per share by the financial services provider on Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, May 5th. This is a 20.0% increase from Synchrony Financial’s previous quarterly dividend of $0.25.

Synchrony Financial has increased its dividend by an average of 4.4% annually over the last three years. Synchrony Financial has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Synchrony Financial to earn $8.73 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 13.7%.

Synchrony Financial Trading Up 4.0 %

Shares of Synchrony Financial stock opened at $51.93 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93. The company’s fifty day moving average is $53.03 and its two-hundred day moving average is $60.23. The company has a market capitalization of $20.19 billion, a P/E ratio of 6.08, a PEG ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial lowered their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company reduced their price target on Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday. Cfra Research upgraded shares of Synchrony Financial to a “hold” rating in a report on Tuesday. Royal Bank of Canada increased their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Evercore ISI dropped their target price on Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus price target of $64.37.

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.