Synchrony Financial (NYSE:SYF) PT Raised to $51.00

Synchrony Financial (NYSE:SYF) had its price target boosted by analysts at TD Cowen from $49.00 to $51.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price suggests a potential upside of 14.17% from the company’s current price.

SYF has been the topic of a number of other research reports. Oppenheimer reaffirmed a “market perform” rating on shares of Synchrony Financial in a report on Wednesday, March 6th. Wolfe Research raised Synchrony Financial from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $50.00 in a report on Thursday, April 4th. Stephens increased their target price on Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Evercore ISI increased their target price on Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, JMP Securities increased their target price on Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.72.

Synchrony Financial Trading Up 0.0 %

Shares of SYF opened at $44.67 on Thursday. The stock’s 50-day moving average is $41.67 and its two-hundred day moving average is $36.86. The stock has a market cap of $18.17 billion, a PE ratio of 6.41, a P/E/G 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 debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.22.

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

Synchrony Financial declared that its board has approved a stock buyback plan on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider David P. Melito sold 7,283 shares of the firm’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 completion of the transaction, the insider now owns 14,183 shares in the company, valued at approximately $552,995.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,158 shares of company stock valued at $6,106,106. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Synchrony Financial

A number of hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC acquired a new stake in shares of Synchrony Financial in the third quarter worth $35,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Synchrony Financial by 44.1% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 390 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Synchrony Financial in the fourth quarter valued at about $55,000. Brown Brothers Harriman & Co. raised its position in Synchrony Financial by 56.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 522 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Synchrony Financial during the fourth quarter worth about $60,000. 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.