Synchrony Financial (SYF) Coverage Initiated by Analysts at Wells Fargo & Company
Wells Fargo & Company initiated coverage on shares of Synchrony Financial (NYSE:SYF) in a research note issued on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the financial services provider’s stock.
SYF has been the topic of a number of other research reports. Morgan Stanley lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $35.00 to $32.00 in a research note on Friday, September 8th. Bank of America Corporation lowered Synchrony Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $33.00 in a research note on Friday. BMO Capital Markets restated a “buy” rating and set a $40.00 price target on shares of Synchrony Financial in a research note on Friday, August 25th. BidaskClub upgraded Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Jefferies Group LLC restated a “buy” rating and set a $40.00 price target on shares of Synchrony Financial in a research note on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Synchrony Financial currently has an average rating of “Buy” and an average target price of $37.09.
Shares of Synchrony Financial (NYSE SYF) traded up 0.99% during mid-day trading on Tuesday, hitting $31.75. 4,847,105 shares of the stock were exchanged. The stock’s 50 day moving average is $30.14 and its 200-day moving average is $30.02. Synchrony Financial has a 12 month low of $26.01 and a 12 month high of $38.06. The stock has a market cap of $25.25 billion, a PE ratio of 11.92 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, analysts anticipate that Synchrony Financial will post $2.59 EPS for the current year.
In related news, Director Paget Leonard Alves acquired 2,000 shares of the stock in a transaction on Monday, July 24th. The shares were acquired at an average price of $30.85 per share, for a total transaction of $61,700.00. Following the transaction, the director now owns 8,521 shares in the company, valued at approximately $262,872.85. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.03% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company purchased a new stake in Synchrony Financial in the 4th quarter worth approximately $0. Beacon Capital Management purchased a new stake in Synchrony Financial in the 4th quarter worth approximately $0. Rehmann Capital Advisory Group boosted its position in Synchrony Financial by 0.3% in the 1st quarter. Rehmann Capital Advisory Group now owns 8,749 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 22 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in Synchrony Financial by 0.3% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 32,000 shares of the financial services provider’s stock worth $954,000 after purchasing an additional 94 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Synchrony Financial by 0.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,000 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.
Synchrony Financial Company Profile
Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.
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