Synchrony Financial (NYSE:SYF) Given New $37.00 Price Target at Credit Suisse Group

Synchrony Financial (NYSE:SYFGet Rating) had its price target reduced by Credit Suisse Group from $38.00 to $37.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Credit Suisse Group currently has an outperform rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on SYF. JPMorgan Chase & Co. cut their price target on Synchrony Financial from $39.00 to $36.00 in a report on Tuesday, January 10th. Citigroup raised their price target on Synchrony Financial from $44.00 to $45.00 and gave the stock a buy rating in a report on Tuesday. JMP Securities raised their price target on Synchrony Financial from $39.00 to $42.00 and gave the stock a market outperform rating in a report on Tuesday. UBS Group initiated coverage on Synchrony Financial in a report on Monday, November 21st. They issued a neutral rating and a $42.00 price target on the stock. Finally, Morgan Stanley downgraded Synchrony Financial from an equal weight rating to an underweight rating and cut their target price for the company from $31.00 to $29.00 in a research note on Thursday, December 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $39.27.

Synchrony Financial Price Performance

Shares of SYF opened at $35.37 on Tuesday. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 1.01 and a beta of 1.61. The stock has a 50 day moving average of $34.25 and a 200-day moving average of $33.43. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.17. Synchrony Financial has a 52 week low of $27.22 and a 52 week high of $47.05.

Synchrony Financial (NYSE:SYFGet Rating) last announced its quarterly earnings results on Monday, January 23rd. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.14. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.04 billion. Synchrony Financial had a return on equity of 25.56% and a net margin of 19.47%. During the same quarter last year, the business posted $1.48 EPS. As a group, analysts forecast that Synchrony Financial will post 5.95 EPS for the current year.

Insider Transactions at Synchrony Financial

In other news, insider Margaret M. Keane sold 68,369 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $36.50, for a total value of $2,495,468.50. Following the sale, the insider now owns 762,786 shares of the company’s stock, valued at approximately $27,841,689. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Margaret M. Keane sold 68,369 shares of the business’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $36.50, for a total value of $2,495,468.50. Following the sale, the insider now owns 762,786 shares of the company’s stock, valued at approximately $27,841,689. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carol Juel sold 31,303 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $40.00, for a total value of $1,252,120.00. Following the completion of the sale, the insider now directly owns 55,929 shares in the company, valued at approximately $2,237,160. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

A number of hedge funds have recently modified their holdings of SYF. Hexagon Capital Partners LLC grew its holdings in shares of Synchrony Financial by 231.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 948 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 662 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Synchrony Financial in the 2nd quarter worth $28,000. Cowa LLC acquired a new position in shares of Synchrony Financial in the 3rd quarter worth $28,000. Clear Street Markets LLC grew its holdings in shares of Synchrony Financial by 392.0% in the 2nd quarter. Clear Street Markets LLC now owns 1,048 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 835 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Synchrony Financial in the 2nd quarter worth $31,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

About Synchrony Financial

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Synchrony Financial engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.

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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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