Truist Financial Lowers Synchrony Financial (NYSE:SYF) Price Target to $65.00

Synchrony Financial (NYSE:SYF) had its price objective decreased by Truist Financial from $77.00 to $65.00 in a research note issued to investors on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on SYF. Bank of America raised their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $82.00 in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group lowered their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

Synchrony Financial Price Performance

SYF opened at $54.07 on Friday. The company’s 50 day simple moving average is $62.41 and its 200 day simple moving average is $60.20. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 1 year low of $39.67 and a 1 year high of $70.93. The stock has a market capitalization of $21.02 billion, a PE ratio of 6.33, a P/E/G ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.85%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SYF. Norges Bank acquired a new stake in shares of Synchrony Financial during the 4th quarter valued at approximately $347,903,000. Sachem Head Capital Management LP bought a new stake in Synchrony Financial during the fourth quarter valued at $142,838,000. Price T Rowe Associates Inc. MD lifted its position in shares of Synchrony Financial by 340.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider’s stock worth $163,303,000 after buying an additional 1,942,573 shares during the last quarter. Azora Capital LP lifted its position in shares of Synchrony Financial by 700.5% in the 4th quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider’s stock worth $137,010,000 after buying an additional 1,844,509 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Synchrony Financial by 169.0% in the 4th quarter. Nuveen Asset Management LLC now owns 2,356,862 shares of the financial services provider’s stock valued at $153,196,000 after buying an additional 1,480,702 shares during the period. 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.