Shares of Synchrony Financial (NYSE:SYF) dropped 4.8% during mid-day trading on Wednesday . The stock traded as low as $32.74 and last traded at $33.03, approximately 3,930,288 shares were traded during mid-day trading. A decline of 35% from the average daily volume of 6,034,977 shares. The stock had previously closed at $34.68.

SYF has been the topic of several research reports. Morgan Stanley lifted their target price on Synchrony Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of Synchrony Financial in a research report on Friday, May 3rd. BTIG Research reiterated a “buy” rating and issued a $42.00 price target on shares of Synchrony Financial in a research report on Monday, July 22nd. Nomura lifted their price target on Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Buckingham Research started coverage on Synchrony Financial in a research report on Monday, July 22nd. They issued a “buy” rating and a $42.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Synchrony Financial currently has a consensus rating of “Buy” and an average target price of $38.43.

The company has a market cap of $22.59 billion, a P/E ratio of 8.83, a PEG ratio of 0.81 and a beta of 1.19. The company has a current ratio of 1.36, a quick ratio of 1.25 and a debt-to-equity ratio of 1.44. The business has a 50-day moving average price of $35.39.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Synchrony Financial had a return on equity of 19.50% and a net margin of 17.82%. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the business posted $0.92 earnings per share. On average, sell-side analysts expect that Synchrony Financial will post 4.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, August 2nd. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.21. Synchrony Financial’s payout ratio is 23.53%.

In other Synchrony Financial news, insider David P. Melito sold 3,204 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $36.00, for a total transaction of $115,344.00. Following the completion of the transaction, the insider now owns 23,567 shares in the company, valued at $848,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Margaret M. Keane sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $33.82, for a total value of $4,227,500.00. Following the transaction, the insider now owns 648,901 shares of the company’s stock, valued at approximately $21,945,831.82. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in SYF. Executive Wealth Management LLC purchased a new position in shares of Synchrony Financial during the second quarter valued at approximately $27,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Synchrony Financial during the second quarter valued at approximately $29,000. Captrust Financial Advisors raised its stake in shares of Synchrony Financial by 321.5% during the second quarter. Captrust Financial Advisors now owns 843 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 643 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Synchrony Financial during the second quarter valued at approximately $30,000. Finally, Redhawk Wealth Advisors Inc. bought a new stake in shares of Synchrony Financial during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 88.53% of the company’s stock.

Synchrony Financial Company Profile (NYSE:SYF)

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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