Synchrony Financial sees unusually high options volume (NYSE:SYF)

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Synchrony Financial (NYSE:SYF – Get Rating) saw unusually large options trades on Friday. Investors acquired 36,682 put options on the company. This represents an increase of approximately 587% from the typical daily volume of 5,339 put options.

Synchrony Financial Stock down 3.1%

Synchrony Financial stock was down $1.09 in Friday’s session, hitting $34.28. The stock recorded a trading volume of 98,539 shares, compared to an average volume of 4,558,285 shares. Synchrony Financial has a 52-week low of $27.22 and a 52-week high of $52.49. The company has a 50-day moving average price of $31.58 and a 200-day moving average price of $35.70. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt ratio of 0.96. The stock has a market capitalization of $16.51 billion, a PE ratio of 5.01, a P/E/G ratio of 0.26 and a beta of 1.57.

Synchrony Financial (NYSE:SYF – Get Rating) last released quarterly earnings data on Monday, July 18. The financial services provider reported EPS of $1.60 for the quarter, beating the consensus estimate of $1.47 by $0.13. Synchrony Financial had a net margin of 22.76% and a return on equity of 27.06%. During the same period last year, the company posted EPS of $2.12. On average, analysts predict that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial increases its dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11. Investors of record on Monday August 1 received a dividend of $0.23. The ex-dividend date was Friday, July 29. This represents a dividend of $0.92 on an annualized basis and a yield of 2.68%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.43%.

Wall Street analysts predict growth

Several research analysts have commented on the company. Wolfe Research downgraded Synchrony Financial from a “peer performing” rating to an “underperforming” rating and set a target price of $22.00 for the stock. in a report on Thursday, May 12. Wells Fargo & Company downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and lowered its price target for the stock from $45.00 to $32.00 in a Wednesday, July 13 report . Credit Suisse Group raised its price target on Synchrony Financial from $46.00 to $47.00 and gave the stock an “outperform” rating in a Tuesday, July 19 report. Keefe, Bruyette & Woods reduced their target price on Synchrony Financial from $59.00 to $46.00 in a Monday July 11 research note. Finally, Piper Sandler set a target price of $41.00 on Synchrony Financial in a Tuesday, July 19 research note. One investment analyst has assigned the stock a sell rating, four have assigned a hold rating and twelve have assigned the company’s stock a buy rating. According to MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and a consensus price target of $45.76.

Hedge funds weigh on Synchrony Financial

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new stock position in Synchrony Financial during Q2 worth approximately $28,000. Clear Street Markets LLC increased its stake in Synchrony Financial by 392.0% in the second quarter. Clear Street Markets LLC now owns 1,048 shares of the financial services provider valued at $29,000 after buying an additional 835 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Synchrony Financial in the second quarter worth approximately $31,000. Quent Capital LLC increased its position in Synchrony Financial shares by 50.1% during the first quarter. Quent Capital LLC now owns 1,003 shares of the financial services provider worth $35,000 after acquiring 335 additional shares in the last quarter. Finally, Column Capital Advisors LLC purchased a new stake in Synchrony Financial in the first quarter worth approximately $37,000. Institutional investors hold 98.26% of the company’s shares.

Synchrony Financial Company Profile

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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 cards, co-branded 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 for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.

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