Synchrony Financial (NYSE: SYF) benefited from a sharp increase in short-term interest in July. As of July 30, there was overdraft interest totaling 12,620,000 shares, an increase of 15.0% from the total of 10,970,000 shares as of July 15. Based on an average trading volume of 5,270,000 shares, the short-term interest rate is currently 2.4 days. Currently, 2.2% of the company’s shares are sold short.
SYF has been the subject of a number of recent research reports. Wells Fargo & Company raised its price target on Synchrony Financial shares from $ 48.00 to $ 55 and rated the company as “overweight” in a report released on Monday, July 12. Deutsche Bank Aktiengesellschaft raised its price target on Synchrony Financial shares from $ 54.00 to $ 58.00 and gave the stock a “buy” rating in a research report published on Wednesday April 28 . began covering shares of Synchrony Financial in a research report on Friday, July 9. They issued a “hold” note and a price target of $ 51.00 for the company. Credit Suisse Group raised its price target for Synchrony Financial shares from $ 53.00 to $ 59.00 and gave the stock an “outperformance” rating in a research report published on Friday, July 2. Finally, JMP Securities raised its price target on Synchrony Financial shares from $ 43.00 to $ 55.00 and gave the stock a rating of “outperforming the market” in a research report published on Monday 19. July. Four analysts rated the stock with a conservation rating and ten issued a buy rating for the company’s stock. Synchrony Financial currently has an average “Buy” rating and a consensus target price of $ 53.21.
In other Synchrony Financial news, insider Carol Juel sold 8,708 shares of the company in a trade on Monday, June 28. The shares were sold for an average price of $ 49.63, for a total value of $ 432,178.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.45% of the shares are held by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYF. Andesa Financial Management Inc. increased its holdings of Synchrony Financial shares by 2.1% in the second quarter. Andesa Financial Management Inc. now owns 10,494 shares of the financial services provider valued at $ 512,000 after acquiring 214 additional shares in the last quarter. Penserra Capital Management LLC increased its position in Synchrony Financial by 18.8% during the first quarter. Penserra Capital Management LLC now owns 1,418 shares of the financial services provider valued at $ 57,000 after purchasing an additional 224 shares in the last quarter. Advisor Partners LLC increased its position in Synchrony Financial by 1.3% during the second quarter. Advisor Partners LLC now owns 17,546 shares of the financial services provider valued at $ 851,000 after purchasing an additional 232 shares in the last quarter. IndexIQ Advisors LLC increased its position in Synchrony Financial by 2.6% during the second quarter. IndexIQ Advisors LLC now owns 9,239 shares of the financial services provider valued at $ 448,000 after purchasing an additional 233 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Synchrony Financial by 19.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,715 shares of the financial services provider valued at $ 84,000 after purchasing an additional 276 shares in the last quarter. Institutional investors hold 86.08% of the shares of the company.
NYSE SYF opened at $ 49.20 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt ratio of 1.00. The company has a market cap of $ 28.03 billion, a price / earnings ratio of 8.77, a PEG ratio of 0.42 and a beta of 1.80. Synchrony Financial has a one-year low of $ 23.82 and a one-year high of $ 51.98. The company has a fifty-day simple moving average of $ 48.37.
Synchrony Financial (NYSE: SYF) last released its quarterly earnings data on Monday, July 19. The financial services provider reported EPS of $ 2.12 for the quarter, beating analyst consensus estimates of $ 1.47 by $ 0.65. The company posted revenue of $ 3.31 billion for the quarter, compared to $ 2.60 billion according to analysts’ estimates. Synchrony Financial had a net margin of 21.76% and a return on equity of 27.59%. During the same period of the previous year, the company posted earnings per share of $ 0.06. Research analysts predict that Synchrony Financial will post 6.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 12. Shareholders of record on Monday August 2 received a dividend of $ 0.22. The ex-dividend date of this dividend was Friday July 30. This represents a dividend of $ 0.88 on an annualized basis and a return of 1.79%. Synchrony Financial’s dividend payout ratio is currently 33.85%.
Synchrony Financial said its board of directors approved a share buyback plan on Tuesday, May 25 that allows the company to repurchase $ 2.90 billion of outstanding shares. This buyback authorization allows the financial services provider to buy back up to 10.7% of its shares through open market purchases. Share buyback plans usually indicate that the board of directors of the company believes its shares are undervalued.
Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company in the United States. It offers a range of specialized financing programs and banking products to consumers in the digital, retail, home, automotive, travel, health and pet industries. The company also offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium business credit products; and promotional financing for consumer purchases, such as private label credit cards, dual cards, and installment loans.
Further Reading: Momentum Indicators
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