Royal Bank of Canada Increases Synchrony Financial (NYSE:SYF) Price Target to $62.00

Synchrony Financial (NYSE:SYF) had its target price raised by research analysts at Royal Bank of Canada from $55.00 to $62.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 9.70% from the company’s previous close.

SYF has been the subject of several other research reports. BMO Capital Markets reduced their price objective on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating for the company in a research report on Thursday, July 18th. The Goldman Sachs Group increased their target price on Synchrony Financial from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Morgan Stanley raised their price objective on Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of Synchrony Financial in a research note on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.05.

Synchrony Financial Stock Up 6.1 %

SYF stock opened at $56.52 on Thursday. The stock has a market capitalization of $22.34 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $56.59. The firm has a 50-day moving average price of $49.02 and a 200-day moving average price of $46.43.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 EPS. As a group, equities research analysts anticipate that Synchrony Financial will post 5.81 EPS for the current fiscal year.

Insider Transactions at Synchrony Financial

In related news, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bart Schaller sold 930 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the transaction, the insider now directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Synchrony Financial by 1.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,968 shares of the financial services provider’s stock valued at $1,994,000 after purchasing an additional 379 shares during the last quarter. Vista Investment Partners LLC bought a new position in Synchrony Financial during the third quarter valued at $4,018,000. nVerses Capital LLC bought a new position in Synchrony Financial during the third quarter valued at $264,000. Vontobel Holding Ltd. lifted its position in Synchrony Financial by 125.6% during the third quarter. Vontobel Holding Ltd. now owns 16,080 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 8,952 shares during the last quarter. Finally, Swedbank AB lifted its position in Synchrony Financial by 0.3% during the third quarter. Swedbank AB now owns 99,773 shares of the financial services provider’s stock valued at $4,977,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Company Profile

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 co-brand 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.