Truist Financial Increases Synchrony Financial (NYSE:SYF) Price Target to $92.00

Synchrony Financial (NYSE:SYF) had its price objective hoisted by stock analysts at Truist Financial from $78.00 to $92.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 7.55% from the stock’s previous close.

SYF has been the subject of a number of other reports. Bank of America lifted their price target on shares of Synchrony Financial from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Barclays boosted their target price on Synchrony Financial from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. JMP Securities upped their target price on Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research note on Thursday, September 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a report on Wednesday, October 8th. Finally, Wall Street Zen cut Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, November 28th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.33.

Synchrony Financial Stock Performance

NYSE:SYF opened at $85.54 on Monday. The firm has a market capitalization of $30.81 billion, a PE ratio of 9.34, a PEG ratio of 0.60 and a beta of 1.46. The stock’s fifty day moving average is $76.74 and its 200 day moving average is $72.76. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $86.22. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24.

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

Synchrony Financial announced that its Board of Directors has authorized a stock 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 often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $73.93, for a total transaction of $591,440.00. Following the sale, the director owned 35,769 shares of the company’s stock, valued at approximately $2,644,402.17. This trade represents a 18.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darrell Owens sold 2,989 shares of Synchrony Financial stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $221,245.78. Following the completion of the transaction, the insider owned 16,096 shares in the company, valued at $1,191,425.92. This represents a 15.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 55,075 shares of company stock valued at $4,036,892. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYF. Westside Investment Management Inc. lifted its position in shares of Synchrony Financial by 100.0% during the third quarter. Westside Investment Management Inc. now owns 358 shares of the financial services provider’s stock valued at $25,000 after buying an additional 179 shares during the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in shares of Synchrony Financial during the 2nd quarter worth approximately $26,000. FWL Investment Management LLC purchased a new stake in Synchrony Financial during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC boosted its stake in Synchrony Financial by 54.9% in the third quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 146 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in Synchrony Financial in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.