Evercore ISI Boosts Synchrony Financial (NYSE:SYF) Price Target to $65.00

Synchrony Financial (NYSE:SYF) had its price objective raised by research analysts at Evercore ISI from $58.00 to $65.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price target indicates a potential upside of 14.52% from the company’s previous close.

Other analysts have also recently issued research reports about the company. BMO Capital Markets decreased their target price on Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Jefferies Financial Group upped their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their price objective on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. One 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 given a strong buy rating to the stock. According to MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and a consensus price target of $56.60.

Synchrony Financial Price Performance

Shares of SYF traded up $1.01 during trading hours on Wednesday, hitting $56.76. The stock had a trading volume of 844,077 shares, compared to its average volume of 3,917,040. The stock has a market capitalization of $22.79 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 1.19 and a beta of 1.61. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The company’s fifty day moving average is $50.72 and its two-hundred day moving average is $47.37. Synchrony Financial has a 52 week low of $27.68 and a 52 week high of $57.37.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.17. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.48 earnings per share. On average, analysts anticipate that Synchrony Financial will post 6.28 EPS for the current year.

Insider Buying and Selling

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now owns 76,251 shares of the company’s stock, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Brian J. Sr. Wenzel sold 74,698 shares of the firm’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 value of $3,490,637.54. Following the completion of the transaction, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The trade was 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 owned by corporate insiders.

Institutional Trading of Synchrony Financial

A number of hedge funds and other institutional investors have recently modified their holdings of SYF. Headlands Technologies LLC bought a new stake in Synchrony Financial in the 1st quarter worth about $28,000. Altshuler Shaham Ltd purchased a new stake in shares of Synchrony Financial in the second quarter worth $31,000. International Assets Investment Management LLC bought a new stake in Synchrony Financial during the second quarter valued at about $33,000. WR Wealth Planners LLC lifted its holdings in Synchrony Financial by 83.6% in the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 326 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Synchrony Financial during the second quarter worth $39,000. 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.