Synchrony Financial (NYSE:SYF) Given New $85.00 Price Target at Bank of America

Synchrony Financial (NYSE:SYF - Free Report) had its target price increased by Bank of America from $82.00 to $85.00 in a report issued on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the financial services provider's stock.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company upgraded shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their target price on Synchrony Financial from $62.00 to $82.00 and gave the company an "outperform" rating in a report on Monday, December 9th. StockNews.com upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a report on Wednesday, October 9th. Compass Point increased their price objective on Synchrony Financial from $60.00 to $77.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley raised Synchrony Financial from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.50.

Synchrony Financial Price Performance

NYSE:SYF traded down $3.18 during mid-day trading on Tuesday, reaching $66.68. 8,151,015 shares of the stock were exchanged, compared to its average volume of 3,211,224. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average price of $66.87 and a 200 day moving average price of $57.01. Synchrony Financial has a 1-year low of $37.91 and a 1-year high of $70.93. The firm has a market capitalization of $25.96 billion, a PE ratio of 8.70, a PEG ratio of 0.83 and a beta of 1.64.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. Research analysts expect that Synchrony Financial will post 6.54 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.50%. Synchrony Financial's dividend payout ratio is currently 13.05%.

Insider Activity

In other news, insider Jonathan S. Mothner sold 34,163 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares of the company's stock, valued at $8,291,879.13. The trade was a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the insider now directly owns 99,743 shares of the company's stock, valued at $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Institutional Trading of Synchrony Financial

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC raised its position in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock worth $30,000 after acquiring an additional 292 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 253 shares during the last quarter. Quarry LP grew its position in shares of Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider's stock worth $45,000 after buying an additional 675 shares during the period. Capital Performance Advisors LLP bought a new position in Synchrony Financial in the third quarter valued at approximately $50,000. Finally, Raleigh Capital Management Inc. raised its position in shares of Synchrony Financial by 151.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 486 shares during the last quarter. Institutional investors own 96.48% of the company's stock.

About Synchrony Financial

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.