Synchrony Financial (NYSE:SYF) Price Target Raised to $46.00

Synchrony Financial (NYSE:SYF) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $42.00 to $46.00 in a research 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 indicates a potential upside of 4.05% from the company’s current price.

Other research analysts have also recently issued reports about the company. JMP Securities upped their price objective on Synchrony Financial from $35.00 to $42.00 and gave the company a “market outperform” rating in a report on Friday, January 12th. Stephens upped their price objective on Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Wolfe Research upgraded Synchrony Financial from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $36.00 to $50.00 in a report on Thursday, April 4th. BMO Capital Markets cut Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 price target on the stock. in a research note on Wednesday, January 10th. Finally, Barclays upped their price target on Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.78.

Synchrony Financial Stock Performance

Shares of SYF stock traded down $0.81 on Thursday, hitting $44.21. The company had a trading volume of 2,289,259 shares, compared to its average volume of 4,491,475. The firm has a market cap of $17.99 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of 1.06 and a beta of 1.61. The company has a 50-day moving average price of $41.47 and a 200-day moving average price of $36.70. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. Synchrony Financial has a twelve month low of $26.59 and a twelve month high of $45.33.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.19). The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. During the same quarter in the prior year, the firm earned $1.35 EPS. As a group, equities research analysts predict that Synchrony Financial will post 5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the transaction, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the transaction, the insider now owns 152,604 shares in the company, valued at $6,534,503.28. The disclosure for this sale can be found here. In the last three months, insiders sold 148,158 shares of company stock valued at $6,106,106. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new stake in Synchrony Financial in the 3rd quarter worth $35,000. Massmutual Trust Co. FSB ADV grew its position in Synchrony Financial by 44.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Synchrony Financial in the 4th quarter worth $55,000. Brown Brothers Harriman & Co. boosted its position in shares of Synchrony Financial by 56.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 522 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Synchrony Financial during the 4th quarter valued at about $60,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.