Synchrony Financial (NYSE:SYF) PT Raised to $59.00

Synchrony Financial (NYSE:SYF) had its price objective lifted by equities research analysts at Barclays from $49.00 to $59.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 4.57% from the stock’s current price.

Several other equities research analysts have also issued reports on SYF. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley raised their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday. Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. raised their price target on Synchrony Financial from $46.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.25.

Synchrony Financial Stock Down 0.5 %

Shares of SYF stock opened at $56.42 on Thursday. The company has a 50 day simple moving average of $49.43 and a two-hundred day simple moving average of $46.60. The stock has a market cap of $22.30 billion, a P/E ratio of 7.84, a P/E/G ratio of 1.26 and a beta of 1.61. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $57.26. 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 (NYSE:SYF) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.17. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. Synchrony Financial’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 earnings per share. On average, research analysts expect that Synchrony Financial will post 5.81 earnings per share for the current year.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was 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 owns 49,390 shares in the company, valued at $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. 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

Large investors have recently bought and sold shares of the business. Quent Capital LLC lifted its position in shares of Synchrony Financial by 15.4% during the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 214 shares during the last quarter. Wedmont Private Capital increased its stake in Synchrony Financial by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after buying an additional 242 shares during the period. 1832 Asset Management L.P. lifted its holdings in Synchrony Financial by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock valued at $2,465,000 after buying an additional 251 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Synchrony Financial by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock valued at $1,518,000 after buying an additional 262 shares during the period. Finally, Certuity LLC grew its stake in Synchrony Financial by 0.8% in the 2nd quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after acquiring an additional 264 shares in the last quarter. Hedge funds and other 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.