Synchrony Financial (NYSE:SYF) releases quarterly results
Synchrony Financial (NYSE: SYF – Get a rating) released its financial results on Monday. The financial services provider reported earnings per share (EPS) of $1.77 for the quarter, beating the Zacks consensus estimate of $1.54 by $0.23, RTT News reports. Synchrony Financial had a return on equity of 30.77% and a net margin of 27.27%. During the same period a year earlier, the company posted EPS of $1.73.
SYF opened at $37.70 on Monday. The company’s fifty-day moving average is $38.66 and its two-hundred-day moving average is $44.38. The company has a market capitalization of $19.08 billion, a PE ratio of 5.14, a growth price-earnings ratio of 0.29 and a beta of 1.60. Synchrony Financial has a 12-month low of $33.76 and a 12-month high of $52.49. The company has a debt ratio of 1.12, a quick ratio of 1.19 and a current ratio of 1.25.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 15. Shareholders of record on Thursday, February 10 received a dividend of $0.22. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Wednesday, February 9. Synchrony Financial’s dividend payout ratio (DPR) is currently 12.01%.
In other Synchrony Financial news, an insider David P. Melito sold 9,351 shares of the company in a transaction dated Thursday, January 27. The stock was sold at an average price of $46.05, for a total value of $430,613.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders own 0.44% of the shares of the company.
Several large investors have recently changed their stock holdings. Deutsche Bank AG increased its stake in Synchrony Financial shares by 58.4% during the 4th quarter. Deutsche Bank AG now owns 1,684,411 shares of the financial services provider worth $78,139,000 after acquiring an additional 620,990 shares last quarter. Millennium Management LLC increased its position in Synchrony Financial by 2.3% in the fourth quarter. Millennium Management LLC now owns 348,835 shares of the financial services provider valued at $16,182,000 after purchasing an additional 7,679 shares last quarter. Allstate Corp acquired a new stake in Synchrony Financial in Q4 worth $3,121,000. Metropolitan Life Insurance Co NY increased its position in Synchrony Financial shares by 6.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 66,633 shares of the financial services provider valued at $3,091,000 after acquiring 3,832 additional shares in the last quarter. Finally, Vident Investment Advisory LLC increased its position in Synchrony Financial shares by 3.3% in the fourth quarter. Vident Investment Advisory LLC now owns 62,490 shares of the financial services provider valued at $2,899,000 after acquiring 1,976 additional shares in the last quarter. Institutional investors and hedge funds hold 93.86% of the company’s shares.
Several brokerages have recently commented on SYF. Stephens cut his price target on Synchrony Financial shares from $58.00 to $54.00 and set an “equal weight” rating for the company in a Monday, January 31 research report. BMO Capital Markets cut its price target on Synchrony Financial shares from $54.00 to $50.00 and set an “outperform” rating for the company in a Monday, January 31 research report. Barclays raised its price target on Synchrony Financial shares from $63.00 to $64.00 in a Monday, January 10 research report. JPMorgan Chase & Co. lowered its price target on Synchrony Financial shares from $55.00 to $51.00 in a Wednesday, January 19 report. Finally, the Goldman Sachs Group lowered its price target on Synchrony Financial from $45.00 to $40.00 and set a “buy” rating on the stock in a Monday, April 4 report. Nine analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $52.53.
Synchrony Financial Company Profile (Get a rating)
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 cards, co-branded 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 for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.
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