Synchrony Financial (NYSE:SYF) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Synchrony Financial (NYSE:SYF) had its price target upped by research analysts at Wells Fargo & Company from $85.00 to $95.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.58% from the stock’s previous close.

Several other brokerages have also issued reports on SYF. HSBC raised Synchrony Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $73.00 to $81.00 in a research note on Friday, October 10th. Bank of America upped their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Hsbc Global Res raised shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. UBS Group boosted their price target on shares of Synchrony Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI upped their price target on shares of Synchrony Financial from $83.00 to $84.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.56.

Synchrony Financial Stock Up 0.5%

SYF opened at $83.64 on Wednesday. The business’s fifty day simple moving average is $75.84 and its 200 day simple moving average is $71.99. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $86.22. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. The stock has a market cap of $30.12 billion, a PE ratio of 9.13, a P/E/G ratio of 0.58 and a beta of 1.46.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 EPS. As a group, research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial announced that its Board of Directors has approved a share repurchase program on Wednesday, October 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 3.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total transaction of $591,440.00. Following the transaction, the director directly owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. The trade was a 18.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 32,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the completion of the sale, the insider directly owned 127,100 shares of the company’s stock, valued at approximately $9,252,880. This represents a 20.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 55,075 shares of company stock worth $4,036,892. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Synchrony Financial

Several large investors have recently bought and sold shares of the company. Westside Investment Management Inc. lifted its stake in shares of Synchrony Financial by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 358 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 179 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in Synchrony Financial in the second quarter worth $26,000. FWL Investment Management LLC bought a new position in Synchrony Financial in the third quarter worth $26,000. Salomon & Ludwin LLC lifted its position in Synchrony Financial by 54.9% during the third quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider’s stock valued at $29,000 after buying an additional 146 shares during the period. Finally, Palisade Asset Management LLC bought a new stake in shares of Synchrony Financial during the 3rd quarter valued at $29,000. 96.48% of the stock is owned by 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.