Wells Fargo & Company Forecasts Strong Price Appreciation for Synchrony Financial (NYSE:SYF) Stock

Synchrony Financial (NYSE:SYF) had its price objective hoisted by Wells Fargo & Company from $95.00 to $100.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 13.06% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. HSBC upgraded Synchrony Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $73.00 to $81.00 in a report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. Truist Financial lifted their price objective on shares of Synchrony Financial from $78.00 to $92.00 and gave the stock a “hold” rating in a research note on Monday, December 22nd. Barclays boosted their price objective on shares of Synchrony Financial from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Wall Street Zen lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, November 28th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.11.

Synchrony Financial Trading Up 2.0%

SYF opened at $88.45 on Monday. The firm has a 50 day simple moving average of $79.14 and a 200 day simple moving average of $74.44. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $88.53. The company has a market cap of $31.86 billion, a price-to-earnings ratio of 9.66, a price-to-earnings-growth ratio of 0.60 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 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 analyst estimates of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 EPS. 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 initiated a stock buyback program on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 3.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Synchrony Financial

In related news, insider Darrell Owens sold 2,989 shares of the business’s 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 sale, the insider directly owned 16,096 shares of the company’s stock, valued at approximately $1,191,425.92. The trade was a 15.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 32,000 shares of Synchrony Financial stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $72.80, for a total value of $2,329,600.00. Following the completion of the sale, the insider directly owned 127,100 shares in the company, valued at $9,252,880. This represents a 20.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 55,075 shares of company stock valued at $4,036,892. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors have recently bought and sold shares of the company. Brandywine Global Investment Management LLC increased its stake in Synchrony Financial by 56.5% in the second quarter. Brandywine Global Investment Management LLC now owns 370,383 shares of the financial services provider’s stock valued at $24,719,000 after acquiring an additional 133,780 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Synchrony Financial by 6.1% during the second quarter. AQR Capital Management LLC now owns 4,266,366 shares of the financial services provider’s stock valued at $284,737,000 after purchasing an additional 245,527 shares during the period. Monument Capital Management bought a new stake in Synchrony Financial in the 3rd quarter worth $2,735,000. CWM LLC grew its stake in shares of Synchrony Financial by 50.0% in the third quarter. CWM LLC now owns 58,511 shares of the financial services provider’s stock worth $4,157,000 after purchasing an additional 19,513 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Synchrony Financial by 138.4% during the first quarter. Intech Investment Management LLC now owns 110,303 shares of the financial services provider’s stock valued at $5,839,000 after buying an additional 64,044 shares during the period. 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.