Synchrony Financial (NYSE:SYF) PT Raised to $49.00

Synchrony Financial (NYSE:SYF) had its target price lifted by investment analysts at Wells Fargo & Company from $45.00 to $49.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.89% from the company’s previous close.

SYF has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on shares of Synchrony Financial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. TD Cowen boosted their price objective on shares of Synchrony Financial from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $62.00 price objective on shares of Synchrony Financial in a research note on Tuesday, June 11th. Morgan Stanley reissued an “underweight” rating and issued a $30.00 price objective on shares of Synchrony Financial in a research note on Wednesday, June 12th. Finally, Evercore ISI boosted their price objective on shares of Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.41.

Synchrony Financial Trading Down 0.7 %

SYF stock opened at $48.09 on Tuesday. The company has a market capitalization of $19.31 billion, a PE ratio of 6.90, a P/E/G ratio of 1.11 and a beta of 1.63. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $48.97. The firm’s 50-day moving average is $44.70 and its 200 day moving average is $41.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.23.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same quarter in the prior year, the business posted $1.35 earnings per share. On average, research analysts anticipate that Synchrony Financial will post 5.71 EPS for the current year.

Synchrony Financial announced that its board has initiated a stock repurchase program on Wednesday, April 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 31,562 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the sale, the insider now directly owns 121,042 shares of the company’s stock, valued at approximately $5,446,890. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several hedge funds have recently modified their holdings of the company. Quent Capital LLC raised its position in shares of Synchrony Financial by 15.4% during the 1st 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. Fifth Third Bancorp raised its position in shares of Synchrony Financial by 0.7% during the 1st quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock worth $1,649,000 after purchasing an additional 250 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Synchrony Financial by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 262 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Synchrony Financial by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock worth $3,896,000 after purchasing an additional 265 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Synchrony Financial by 0.8% during the 4th quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 268 shares during 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.