Synchrony Financial (NYSE:SYF) PT Raised to $46.00

Synchrony Financial (NYSE:SYF) had its price objective upped by JPMorgan Chase & Co. from $42.00 to $46.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 2.98% from the company’s current price.

A number of other analysts also recently commented on SYF. Wells Fargo & Company increased their price objective on shares of Synchrony Financial from $38.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Stephens increased their price objective on shares of Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Oppenheimer reiterated a “market perform” rating on shares of Synchrony Financial in a report on Wednesday, March 6th. JMP Securities increased their price objective on shares of Synchrony Financial from $35.00 to $42.00 and gave the company a “market outperform” rating in a report on Friday, January 12th. Finally, Evercore ISI increased their price objective on shares of Synchrony Financial from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.72.

Synchrony Financial Trading Up 0.0 %

Shares of Synchrony Financial stock opened at $44.67 on Thursday. The firm has a market capitalization of $18.17 billion, a PE ratio of 6.41, a P/E/G ratio of 1.11 and a beta of 1.61. Synchrony Financial has a twelve month low of $26.59 and a twelve month high of $45.46. The firm’s 50-day moving average price is $41.67 and its 200 day moving average price is $36.86. The company has a current ratio of 1.24, a quick ratio of 1.22 and a debt-to-equity ratio of 1.15.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. During the same period in the prior year, the business posted $1.35 earnings per share. On average, sell-side analysts predict that Synchrony Financial will post 5.57 EPS for the current fiscal year.

Synchrony Financial declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 24th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the transaction, the insider now owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the sale, the insider now directly owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the sale, the insider now directly owns 14,183 shares of the company’s stock, valued at $552,995.17. The disclosure for this sale can be found here. Insiders sold 148,158 shares of company stock valued at $6,106,106 in the last 90 days. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several institutional investors have recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Synchrony Financial by 0.7% during the 1st quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock worth $1,649,000 after purchasing an additional 250 shares during the last quarter. Gulf International Bank UK Ltd lifted its position in shares of Synchrony Financial by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 262 shares during the last quarter. US Bancorp DE lifted its position in shares of Synchrony Financial by 0.8% during the 4th quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 268 shares during the last quarter. MV Capital Management Inc. raised its stake in Synchrony Financial by 8.3% during the 1st quarter. MV Capital Management Inc. now owns 3,509 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 270 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Synchrony Financial by 4.3% during the 4th quarter. Assetmark Inc. now owns 6,933 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 288 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other 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.