Synchrony Financial (NYSE:SYF) PT Raised to $46.00

Synchrony Financial (NYSE:SYF) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $42.00 to $46.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 2.98% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Oppenheimer restated a “market perform” rating on shares of Synchrony Financial in a research note on Wednesday, March 6th. Bank of America raised their price target on Synchrony Financial from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Piper Sandler lifted their target price on 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 Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.72.

Synchrony Financial Stock Up 0.0 %

Synchrony Financial stock opened at $44.67 on Thursday. The firm has a market cap of $18.17 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 1.11 and a beta of 1.61. Synchrony Financial has a 12 month low of $26.59 and a 12 month high of $45.46. The company has a current ratio of 1.24, a quick ratio of 1.22 and a debt-to-equity ratio of 1.15. The stock has a fifty day simple moving average of $41.67 and a two-hundred day simple moving average of $36.86.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter last year, the business earned $1.35 earnings per share. Equities analysts predict that Synchrony Financial will post 5.57 EPS for the current fiscal year.

Synchrony Financial announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Synchrony Financial

In other news, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now directly owns 14,183 shares of the company’s stock, valued at $552,995.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,158 shares of company stock valued at $6,106,106. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

Several large investors have recently added to or reduced their stakes in SYF. Exchange Traded Concepts LLC bought a new stake in Synchrony Financial during the third quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV increased its stake in Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Synchrony Financial during the fourth quarter worth approximately $55,000. Brown Brothers Harriman & Co. boosted its position in shares of Synchrony Financial by 56.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock valued at $55,000 after buying an additional 522 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $60,000. 96.48% of the stock is owned by 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.