Synchrony Financial (NYSE:SYF) Lifted to “Buy” at StockNews.com

Synchrony Financial (NYSE:SYF) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other brokerages also recently commented on SYF. Deutsche Bank Aktiengesellschaft began coverage on shares of Synchrony Financial in a report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 target price for the company. Bank of America increased their target price on shares of Synchrony Financial from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company increased their target price 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. TD Cowen increased their price target on shares of Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets increased their price target on shares of Synchrony Financial from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial presently has an average rating of “Hold” and a consensus price target of $42.72.

Synchrony Financial Stock Up 0.0 %

Synchrony Financial stock opened at $44.67 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm’s fifty day moving average is $41.67 and its 200 day moving average is $36.86. Synchrony Financial has a 12-month low of $26.59 and a 12-month high of $45.46. The company has a market capitalization of $18.17 billion, a PE ratio of 6.41, a PEG ratio of 1.11 and a beta of 1.61.

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

Synchrony Financial announced that its board has approved a share buyback plan on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 5.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Synchrony Financial

In related news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares in the company, valued at approximately $552,995.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the transaction, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. Insiders sold 148,158 shares of company stock worth $6,106,106 in the last three months. 0.65% of the stock is owned by insiders.

Institutional Trading of Synchrony Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SYSTM Wealth Solutions LLC grew its position in shares of Synchrony Financial by 4.2% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 10,861 shares of the financial services provider’s stock worth $468,000 after buying an additional 438 shares during the period. LifePro Asset Management purchased a new stake in Synchrony Financial during the 1st quarter valued at about $661,000. Verdence Capital Advisors LLC grew its position in Synchrony Financial by 2.2% during the 1st quarter. Verdence Capital Advisors LLC now owns 28,658 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 614 shares during the last quarter. New York State Teachers Retirement System grew its position in Synchrony Financial by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 500,227 shares of the financial services provider’s stock valued at $21,570,000 after purchasing an additional 6,475 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Synchrony Financial by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 518,913 shares of the financial services provider’s stock valued at $22,376,000 after purchasing an additional 24,318 shares during 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.