Synchrony Financial (SYF)

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Synchrony Financial’s Quiet Period Set To Expire on September 9th (NYSE:SYF)
September 6th, 2014 -- by Matt Cooper

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Synchrony Financial’s (NYSE:SYF) quiet period is set to expire on Tuesday, September 9th. Synchrony Financial had issued 125,000,000 shares in its initial public offering on July 31st, AmericanBankingNews.com reports. The total size of the offering was $2,875,000,000 based on an initial share price of $23.00. During Synchrony Financial’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Separately, analysts at BTIG Research initiated coverage on shares of Synchrony Financial in a research note on Thursday, July 31st. They set a “buy” rating and a $30.00 price target on the stock.

Shares of Synchrony Financial (NYSE:SYF) traded up 0.27% during mid-day trading on Friday, hitting $25.77. 1,090,378 shares of the company’s stock traded hands. Synchrony Financial has a 52 week low of $22.60 and a 52 week high of $26.02. The stock’s 50-day moving average is $24.21 and its 200-day moving average is $24.21. The company has a market cap of $21.396 billion and a price-to-earnings ratio of 10.89.

Synchrony Financial (NYSE:SYF) is a consumer financial services companies in the United States.




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