Synchrony Financial (NYSE:SYF) Price Target Raised to $85.00

Synchrony Financial (NYSE:SYF) had its price target hoisted by analysts at Bank of America from $82.00 to $85.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price indicates a potential upside of 23.62% from the company’s previous close.

SYF has been the topic of several other research reports. Royal Bank of Canada increased their target price on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 17th. TD Cowen raised their price objective on shares of Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Compass Point raised their price target on shares of Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average target price of $69.05.

Synchrony Financial Trading Up 3.2 %

Shares of Synchrony Financial stock opened at $68.76 on Tuesday. Synchrony Financial has a 12-month low of $37.91 and a 12-month high of $70.93. The stock has a market capitalization of $26.77 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. The company has a 50-day simple moving average of $66.93 and a 200 day simple moving average of $57.14. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. Research analysts expect that Synchrony Financial will post 6.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now directly owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SYF. Apollon Wealth Management LLC lifted its position in Synchrony Financial by 2.3% during the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock worth $461,000 after buying an additional 160 shares in the last quarter. Gladstone Institutional Advisory LLC raised its holdings in Synchrony Financial by 1.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after acquiring an additional 176 shares in the last quarter. Graypoint LLC boosted its position in Synchrony Financial by 4.0% during the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 181 shares during the last quarter. Wedmont Private Capital grew its stake in Synchrony Financial by 2.6% in the fourth quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 192 shares in the last quarter. Finally, Empirical Finance LLC increased its position in shares of Synchrony Financial by 1.3% during the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Company Profile

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.