Synchrony Financial (NYSE:SYF) Hits New 12-Month Low on

Shares of Synchrony Financial (NYSE:SYF – Get Rating) reached a new 52-week low on Thursday after Piper Sandler lowered their price target on the stock from $49.00 to $42.00. Piper Sandler currently has an overweight rating on the stock. Synchrony Financial traded as low as $27.22 and last traded at $27.33, with a volume of 40356 shares. The stock had previously closed at $28.53.

SYF has been the subject of a number of other research reports. Wolfe Research downgraded Synchrony Financial from a “peer perform” rating to an “underperform” rating and set a $22.00 target price for the company. in a research report on Thursday, May 12th. Morgan Stanley downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $56.00 to $40.00 in a report on Monday, March 28th. Wells Fargo & Company dropped their price objective on Synchrony Financial from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 6th. BMO Capital Markets increased their price target on Synchrony Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, April 19th. Finally, StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $50.61.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group lifted its holdings in Synchrony Financial by 13.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 7,347 shares of the financial services provider’s stock worth $254,000 after buying an additional 857 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Synchrony Financial by 1,769.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,757 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,663 shares during the period. Advisory Services Network LLC raised its position in shares of Synchrony Financial by 357.2% in the 1st quarter. Advisory Services Network LLC now owns 23,543 shares of the financial services provider’s stock worth $819,000 after acquiring an additional 18,394 shares in the last quarter. Toroso Investments LLC raised its position in shares of Synchrony Financial by 12.3% in the 1st quarter. Toroso Investments LLC now owns 16,010 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 1,752 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Synchrony Financial in the 1st quarter worth about $215,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

The company has a 50-day moving average price of $34.14 and a two-hundred day moving average price of $39.21. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $13.76 billion, a P/E ratio of 3.87, a price-to-earnings-growth ratio of 0.23 and a beta of 1.43.

Synchrony Financial (NYSE:SYF – Get Rating) last posted its quarterly earnings data on Monday, April 18th. The financial services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.20. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $1.73 EPS. Research analysts forecast that Synchrony Financial will post 5.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Monday, May 2nd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Friday, April 29th. Synchrony Financial’s payout ratio is 11.94%.

Synchrony Financial announced that its Board of Directors has approved a share repurchase plan on Monday, April 18th that permits the company to repurchase $2.80 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 13.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Synchrony Financial Company Profile (NYSE:SYF)

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-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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

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