Synchrony Financial (NYSE:SYF) Price Target Increased to $59.00 by Analysts at Barclays

Synchrony Financial (NYSE:SYF) had its price objective increased by equities research analysts at Barclays from $49.00 to $59.00 in a research 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 target price would suggest a potential upside of 4.42% from the stock’s current price.

Several other research firms have also recently issued reports on SYF. Wells Fargo & Company boosted their target price on Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Robert W. Baird began coverage on Synchrony Financial in a report on Friday, June 28th. They set an “outperform” rating and a $56.00 price objective on the stock. Jefferies Financial Group increased their price objective on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI lowered their price target on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Baird R W upgraded shares of Synchrony Financial to a “strong-buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.05.

Synchrony Financial Stock Performance

Shares of NYSE SYF traded down $0.02 during trading hours on Thursday, reaching $56.50. The stock had a trading volume of 883,343 shares, compared to its average volume of 3,948,595. The firm has a market cap of $22.33 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.26 and a beta of 1.61. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $56.98. The firm has a 50-day moving average of $49.02 and a 200-day moving average of $46.43. 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 quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Synchrony Financial’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts predict that Synchrony Financial will post 5.81 earnings per share for the current year.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Bart Schaller sold 930 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $3,490,637.54. Following the transaction, the insider now directly owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB increased its position in shares of Synchrony Financial by 23.8% during the second quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock worth $4,694,000 after acquiring an additional 19,098 shares during the last quarter. Cetera Investment Advisers bought a new position in Synchrony Financial during the 1st quarter valued at $2,192,000. Nordea Investment Management AB grew its holdings in Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after acquiring an additional 674,366 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Synchrony Financial by 98.6% in the 1st quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock worth $1,029,000 after purchasing an additional 11,846 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Synchrony Financial by 52.6% in the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock valued at $21,134,000 after purchasing an additional 168,920 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

About Synchrony Financial

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.