Synchrony Financial (NYSE:SYF) – Investment analysts at Oppenheimer Holdings boosted their FY2018 earnings estimates for shares of Synchrony Financial in a research report issued to clients and investors on Tuesday. Oppenheimer Holdings analyst B. Chittenden now expects that the financial services provider will post earnings of $3.30 per share for the year, up from their prior estimate of $3.20. Oppenheimer Holdings currently has a “Hold” rating on the stock.

SYF has been the topic of a number of other reports. Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price target (up from $33.00) on shares of Synchrony Financial in a research note on Tuesday, July 25th. Barclays PLC set a $40.00 price target on Synchrony Financial and gave the stock a “buy” rating in a research note on Monday, October 23rd. TheStreet raised Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. Bank of America Corporation downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $33.00 in a research note on Friday, October 6th. Finally, JMP Securities upped their price target on Synchrony Financial from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research note on Monday, October 23rd. Twelve research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Synchrony Financial has an average rating of “Buy” and an average price target of $36.63.

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Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the firm earned $0.73 EPS.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Synchrony Financial by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock valued at $1,557,609,000 after acquiring an additional 956,331 shares during the period. FMR LLC grew its position in shares of Synchrony Financial by 27.1% during the 2nd quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after acquiring an additional 7,874,689 shares during the period. Berkshire Hathaway Inc. bought a new stake in shares of Synchrony Financial during the 2nd quarter valued at $520,747,000. First Eagle Investment Management LLC grew its position in shares of Synchrony Financial by 1.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 17,303,205 shares of the financial services provider’s stock valued at $515,982,000 after acquiring an additional 197,074 shares during the period. Finally, Boston Partners grew its position in shares of Synchrony Financial by 39.3% during the 2nd quarter. Boston Partners now owns 12,891,959 shares of the financial services provider’s stock valued at $384,439,000 after acquiring an additional 3,637,487 shares during the period. 88.46% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Jonathan S. Mothner sold 1,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $33.50, for a total transaction of $33,500.00. Following the completion of the sale, the insider now owns 113,578 shares of the company’s stock, valued at approximately $3,804,863. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Mothner sold 1,500 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $32.82, for a total transaction of $49,230.00. Following the sale, the insider now directly owns 113,934 shares of the company’s stock, valued at approximately $3,739,313.88. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, November 3rd. Synchrony Financial’s payout ratio is 22.90%.

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.

Earnings History and Estimates for Synchrony Financial (NYSE:SYF)

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