Synchrony Financial (NYSE:SYF) PT Raised to $62.00

Synchrony Financial (NYSE:SYF) had its target price boosted by Royal Bank of Canada from $55.00 to $62.00 in a note issued to investors on Thursday, Marketbeat.com reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 9.89% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Friday, August 9th. BMO Capital Markets lowered their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, July 18th. Compass Point upped their price target on shares of Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group increased their price objective on shares of Synchrony Financial from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Morgan Stanley boosted their target price on Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and a consensus target price of $56.25.

Synchrony Financial Trading Down 0.5 %

Shares of NYSE:SYF opened at $56.42 on Thursday. 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’s 50-day moving average price is $49.43 and its 200 day moving average price is $46.60. The company has a market cap of $22.30 billion, a PE ratio of 7.84, a P/E/G 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 $57.26.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Synchrony Financial will post 5.81 earnings per share for the current year.

Insider Buying and Selling at Synchrony Financial

In other news, insider Bart Schaller sold 930 shares of Synchrony Financial 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 in the company, valued at approximately $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 can be accessed through the SEC website. In other news, insider Bart Schaller sold 930 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were 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 directly owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were sold at an average price of $46.73, for a total transaction 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. The trade was 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 hedge funds have recently modified their holdings of SYF. Headlands Technologies LLC acquired a new stake in Synchrony Financial during the first quarter valued at $28,000. Altshuler Shaham Ltd purchased a new stake in shares of Synchrony Financial during the 2nd quarter worth about $31,000. International Assets Investment Management LLC acquired a new stake in shares of Synchrony Financial during the 2nd quarter valued at about $33,000. WR Wealth Planners LLC grew its stake in shares of Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after buying an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Synchrony Financial in the second quarter worth approximately $39,000. 96.48% of the stock is owned by institutional investors and hedge funds.

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.