The Goldman Sachs Group Issues Positive Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF) had its price target boosted by The Goldman Sachs Group from $72.50 to $82.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research firms have also issued reports on SYF. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Truist Financial initiated coverage on shares of Synchrony Financial in a research report on Tuesday. They set a “hold” rating and a $72.00 target price on the stock. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $59.00 to $72.00 in a report on Monday, December 9th. Robert W. Baird set a $62.00 price objective on Synchrony Financial in a report on Thursday, October 17th. Finally, Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.43.

Synchrony Financial Trading Down 1.2 %

NYSE:SYF opened at $65.80 on Wednesday. Synchrony Financial has a 52-week low of $35.29 and a 52-week high of $69.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $65.34 and a 200-day simple moving average of $55.03. The company has a market capitalization of $25.62 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 earnings per share. On average, equities research analysts expect that Synchrony Financial will post 6.51 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. Synchrony Financial’s payout ratio is currently 13.05%.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This represents a 18.03 % 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. National Pension Service raised its stake in shares of Synchrony Financial by 22.7% in the 3rd quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock valued at $47,773,000 after purchasing an additional 177,051 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in Synchrony Financial in the second quarter valued at about $951,000. Ensign Peak Advisors Inc raised its stake in Synchrony Financial by 9.1% during the second quarter. Ensign Peak Advisors Inc now owns 443,251 shares of the financial services provider’s stock valued at $20,917,000 after buying an additional 36,865 shares in the last quarter. National Bank of Canada FI grew its position in shares of Synchrony Financial by 119.0% in the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock worth $12,123,000 after acquiring an additional 132,047 shares in the last quarter. Finally, Brophy Wealth Management LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter valued at approximately $544,000. 96.48% of the stock is currently owned by institutional investors.

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.