Synchrony Financial (NYSE:SYF) Price Target Raised to $37.00

Synchrony Financial (NYSE:SYF) had its price objective increased by investment analysts at Barclays from $36.00 to $37.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential downside of 12.96% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their target price on Synchrony Financial from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, December 18th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Bank of America lifted their target price on shares of Synchrony Financial from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Piper Sandler raised their price target on shares of Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Evercore ISI lifted their target price on shares of Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.24.

Synchrony Financial Stock Up 3.0 %

SYF stock opened at $42.51 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50 day simple moving average is $40.85 and its 200 day simple moving average is $35.79. The company has a market cap of $17.29 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.00 and a beta of 1.61. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $43.83.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same quarter in the prior year, the business earned $1.26 earnings per share. On average, research analysts expect that Synchrony Financial will post 5.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares in the company, valued at approximately $27,246,164.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the transaction, the insider now directly owns 14,183 shares in the company, valued at approximately $552,995.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the transaction, the insider now owns 660,353 shares in the company, valued at $27,246,164.78. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock worth $6,106,106 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Synchrony Financial by 0.9% in the 1st quarter. BlackRock Inc. now owns 41,115,547 shares of the financial services provider’s stock worth $1,195,640,000 after purchasing an additional 361,844 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Synchrony Financial by 6.3% in the first quarter. Goldman Sachs Group Inc. now owns 8,123,671 shares of the financial services provider’s stock worth $282,786,000 after acquiring an additional 484,220 shares during the period. First Trust Advisors LP increased its stake in shares of Synchrony Financial by 14.9% in the first quarter. First Trust Advisors LP now owns 6,791,030 shares of the financial services provider’s stock worth $197,483,000 after acquiring an additional 879,797 shares during the period. Invesco Ltd. raised its position in shares of Synchrony Financial by 16.0% in the third quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock worth $167,187,000 after acquiring an additional 755,856 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Synchrony Financial by 3.7% during the 3rd quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider’s stock worth $152,040,000 after buying an additional 178,344 shares during the period. 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.