Synchrony Financial (NYSE:SYF) Price Target Lowered to $70.00 at Wells Fargo & Company

Synchrony Financial (NYSE:SYF) had its price objective cut by Wells Fargo & Company from $85.00 to $70.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on SYF. UBS Group raised their target price on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. The Goldman Sachs Group reduced their price objective on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Truist Financial lowered their target price on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Royal Bank of Canada increased their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.26.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $43.76 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The company’s fifty day moving average price is $59.21 and its 200 day moving average price is $60.62. The stock has a market capitalization of $17.01 billion, a P/E ratio of 5.12, a P/E/G ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 1 year low of $39.67 and a 1 year high of $70.93.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Synchrony Financial by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider’s stock valued at $650,678,000 after buying an additional 205,641 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Synchrony Financial by 7.4% in the 4th quarter. Allianz Asset Management GmbH now owns 5,509,314 shares of the financial services provider’s stock valued at $358,105,000 after acquiring an additional 380,870 shares during the last quarter. Norges Bank acquired a new stake in shares of Synchrony Financial during the 4th quarter worth about $347,903,000. Northern Trust Corp lifted its stake in Synchrony Financial by 26.7% during the fourth quarter. Northern Trust Corp now owns 5,183,717 shares of the financial services provider’s stock worth $336,942,000 after purchasing an additional 1,093,922 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Synchrony Financial by 9.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,576,854 shares of the financial services provider’s stock valued at $297,496,000 after purchasing an additional 382,194 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

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.