Synchrony Financial (NYSE:SYF) Now Covered by Analysts at Truist Financial

Equities research analysts at Truist Financial initiated coverage on shares of Synchrony Financial (NYSE:SYF) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “hold” rating and a $72.00 price target on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 9.42% from the company’s current price.

A number of other equities analysts have also weighed in on SYF. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $59.00 to $79.00 in a research report on Monday. JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, BTIG Research lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.43.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $65.80 on Tuesday. The stock has a market cap of $25.62 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.82 and a beta of 1.64. The firm’s 50-day moving average is $65.34 and its 200 day moving average is $55.03. Synchrony Financial has a 1 year low of $35.29 and a 1 year high of $69.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. Synchrony Financial’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 EPS. Sell-side analysts anticipate that Synchrony Financial will post 6.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the transaction, the insider now owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

Several hedge funds have recently modified their holdings of SYF. Larson Financial Group LLC increased its holdings in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 292 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Synchrony Financial during the second quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Synchrony Financial during the second quarter valued at about $39,000. Quarry LP increased its holdings in shares of Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 675 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Synchrony Financial during the third quarter valued at about $50,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

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.