Synchrony Financial (NYSE:SYF) Price Target Raised to $65.00

Synchrony Financial (NYSE:SYF) had its target price hoisted by equities research analysts at Jefferies Financial Group from $60.00 to $65.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 15.25% from the company’s current price.

A number of other brokerages have also issued reports on SYF. Deutsche Bank Aktiengesellschaft upped their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Barclays lifted their price target on shares of Synchrony Financial from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 price objective on shares of Synchrony Financial in a research note on Monday. Finally, Royal Bank of Canada lifted their price objective on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and an average price target of $54.55.

Synchrony Financial Stock Performance

Synchrony Financial stock traded down $0.12 on Thursday, hitting $56.40. The company’s stock had a trading volume of 506,460 shares, compared to its average volume of 3,946,720. Synchrony Financial has a one year low of $27.30 and a one year high of $56.98. The firm has a market cap of $22.29 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.09. The company has a fifty day moving average price of $49.02 and a 200-day moving average price of $46.43.

Synchrony Financial (NYSE:SYF) last issued its 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. The company had revenue of $3.81 billion for 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 firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.48 EPS. On average, equities analysts anticipate that Synchrony Financial will post 5.81 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction 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 owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bart Schaller sold 930 shares of the company’s stock in a transaction 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 transaction, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Synchrony Financial

Several hedge funds and other institutional investors have recently made changes to their positions in SYF. Quent Capital LLC grew its holdings in shares of Synchrony Financial by 15.4% in the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 214 shares in the last quarter. Wedmont Private Capital raised its holdings in Synchrony Financial by 3.3% during the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 242 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Synchrony Financial by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after acquiring an additional 251 shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in shares of Synchrony Financial by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after acquiring an additional 262 shares during the period. Finally, Certuity LLC grew its position in shares of Synchrony Financial by 0.8% in the second quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock valued at $1,478,000 after purchasing an additional 264 shares in the last quarter. 96.48% of the stock is owned by 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.