Synchrony Financial [NYSE: SYF] price plunged by -1.49 percent to reach at -$0.44. The company report on April 25, 2023 at 4:30 PM that Synchrony Announces Approval of an Incremental $1.0 Billion Share Repurchase Program and Plans to Increase Quarterly Common Stock Dividend by 9% to $0.25 Per Share.
Synchrony Financial (NYSE: SYF) announced that its Board of Directors has approved an incremental share repurchase program of up to $1.0 billion, commencing this quarter through June 30, 2024, and intends to increase the quarterly cash dividend from $0.23 to $0.25 per share of common stock, commencing in the third quarter of 2023. The company had approximately $300 million remaining under its prior share repurchase program as of March 31, 2023, so this increase will bring the total amount of share repurchase authorization to approximately $1.3 billion through June 30, 2024.
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The company expects to make share repurchases from time to time subject to market conditions and other factors, including legal and regulatory restrictions and required approvals.
A sum of 5090572 shares traded at recent session while its average daily volume was at 5.42M shares. Synchrony Financial shares reached a high of $29.70 and dropped to a low of $29.06 until finishing in the latest session at $29.14.
The one-year SYF stock forecast points to a potential upside of 21.35. The average equity rating for SYF stock is currently 2.50, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Synchrony Financial [SYF]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SYF shares is $37.05 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SYF stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Oppenheimer have made an estimate for Synchrony Financial shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 17, 2023. While these analysts kept the previous recommendation, Keefe Bruyette dropped their target price from $46 to $32. The new note on the price target was released on March 17, 2023, representing the official price target for Synchrony Financial stock. Previously, the target price had yet another drop from $41 to $38, while Barclays kept a Equal Weight rating on SYF stock.
The Average True Range (ATR) for Synchrony Financial is set at 0.95, with the Price to Sales ratio for SYF stock in the period of the last 12 months amounting to 0.70. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 35.55. Price to Free Cash Flow for SYF in the course of the last twelve months was 1.85.
SYF Stock Performance Analysis:
Synchrony Financial [SYF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.67. With this latest performance, SYF shares gained by 3.92% in over the last four-week period, additionally sinking by -10.09% over the last 6 months – not to mention a drop of -23.28% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SYF stock in for the last two-week period is set at 42.56, with the RSI for the last a single of trading hit 41.56, and the three-weeks RSI is set at 42.49 for Synchrony Financial [SYF]. The present Moving Average for the last 50 days of trading for this stock 31.55, while it was recorded at 29.82 for the last single week of trading, and 33.16 for the last 200 days.
SYF Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SYF. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Synchrony Financial go to -3.62%.
Synchrony Financial [SYF] Insider Position Details
There are presently around $12,248 million, or 101.21% of SYF stock, in the hands of institutional investors. The top three institutional holders of SYF stocks are: VANGUARD GROUP INC with ownership of 58,021,118, which is approximately -5.45% of the company’s market cap and around 0.40% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 45,088,025 shares of the stock with an approximate value of $1.31 billion in SYF stocks shares; and BLACKROCK INC., currently with $1.19 billion in SYF stock with ownership of nearly -3.279% of the company’s market capitalization.
290 institutional holders increased their position in Synchrony Financial [NYSE:SYF] by around 23,602,009 shares. Additionally, 353 investors decreased positions by around 41,594,710 shares, while 92 investors held positions by with 355,121,171 shares. The mentioned changes placed institutional holdings at 420,317,890 shares, according to the latest SEC report filing. SYF stock had 97 new institutional investments in for a total of 3,761,091 shares, while 57 institutional investors sold positions of 2,436,203 shares during the same period.