Analysts Set Synchrony Financial (NYSE:SYF) Price Target at $63.95

Shares of Synchrony Financial (NYSE:SYFGet Free Report) have been given an average recommendation of “Moderate Buy” by the twenty-one ratings firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $64.17.

A number of analysts recently commented on the company. Truist Financial dropped their price target on Synchrony Financial from $65.00 to $57.00 and set a “hold” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Cfra Research raised shares of Synchrony Financial to a “hold” rating in a research report on Tuesday, April 22nd. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company lowered their price objective on shares of Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd.

Check Out Our Latest Stock Report on Synchrony Financial

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the transaction, the insider now owns 146,628 shares of the company’s stock, valued at $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Synchrony Financial by 0.6% during the first quarter. Vanguard Group Inc. now owns 48,420,051 shares of the financial services provider’s stock valued at $2,563,358,000 after acquiring an additional 281,383 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Synchrony Financial by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,963,573 shares of the financial services provider’s stock valued at $650,678,000 after purchasing an additional 205,641 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Synchrony Financial by 6.5% during the 1st quarter. Allianz Asset Management GmbH now owns 5,868,022 shares of the financial services provider’s stock valued at $310,653,000 after purchasing an additional 358,708 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Synchrony Financial by 13.7% during the 1st quarter. Invesco Ltd. now owns 5,858,422 shares of the financial services provider’s stock valued at $310,145,000 after purchasing an additional 706,212 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Synchrony Financial during the 4th quarter valued at $347,903,000. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Stock Up 2.9%

SYF opened at $60.94 on Friday. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93. The company’s 50-day moving average is $53.53 and its 200 day moving average is $59.87. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $23.19 billion, a P/E ratio of 7.14, a PEG ratio of 0.71 and a beta of 1.44.

Synchrony Financial (NYSE:SYFGet Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.63 by $0.26. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $0.30 dividend. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Monday, May 5th. Synchrony Financial’s dividend payout ratio is currently 16.46%.

Synchrony Financial Company Profile

(Get Free Report

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.

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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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