Synchrony Financial (SYF) Shares Gap Up to $35.94
Shares of Synchrony Financial (NYSE:SYF) gapped up prior to trading on Tuesday . The stock had previously closed at $35.15, but opened at $35.94. Synchrony Financial shares last traded at $37.45, with a volume of 14111900 shares trading hands.
A number of analysts recently commented on SYF shares. BMO Capital Markets restated a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Friday, August 25th. BidaskClub upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Morgan Stanley cut shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $35.00 to $32.00 in a research report on Friday, September 8th. Jefferies Group restated a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research report on Thursday, September 21st. Finally, Zacks Investment Research cut shares of Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $37.14.
The company has a market capitalization of $29,220.00, a price-to-earnings ratio of 14.24, a PEG ratio of 1.88 and a beta of 1.06. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.47 and a quick ratio of 1.47.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. During the same quarter in the prior year, the company earned $0.73 EPS. analysts anticipate that Synchrony Financial will post 2.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, November 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 22.81%.
In other Synchrony Financial news, insider David P. Melito sold 1,881 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $38.00, for a total transaction of $71,478.00. Following the completion of the transaction, the insider now owns 43,140 shares in the company, valued at approximately $1,639,320. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David P. Melito sold 2,580 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $35.00, for a total value of $90,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,961 shares of company stock valued at $244,508. Corporate insiders own 0.03% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Berkshire Hathaway Inc. acquired a new position in shares of Synchrony Financial during the 2nd quarter worth about $520,747,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Synchrony Financial by 13.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock worth $14,481,000 after buying an additional 56,959 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Synchrony Financial by 1,820.5% during the 2nd quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock worth $326,070,000 after buying an additional 10,365,219 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Synchrony Financial during the 3rd quarter worth about $2,369,000. Finally, Keybank National Association OH boosted its stake in shares of Synchrony Financial by 23.1% during the 3rd quarter. Keybank National Association OH now owns 404,322 shares of the financial services provider’s stock worth $12,555,000 after buying an additional 75,828 shares during the last quarter. Institutional investors own 85.77% of the company’s stock.
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About Synchrony Financial
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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