Truist Financial Cuts Synchrony Financial (NYSE:SYF) Price Target to $65.00

Synchrony Financial (NYSE:SYF) had its target price decreased by stock analysts at Truist Financial from $77.00 to $65.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 20.22% from the stock’s previous close.

A number of other research firms also recently weighed in on SYF. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Bank of America increased their price target on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Compass Point downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research note on Tuesday, January 28th. Finally, UBS Group increased their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and a consensus target price of $68.10.

Synchrony Financial Stock Performance

Shares of SYF opened at $54.07 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $21.02 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 0.71 and a beta of 1.67. The company’s 50 day simple moving average is $62.41 and its 200 day simple moving average is $60.28. Synchrony Financial has a 1 year low of $39.67 and a 1 year high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Institutional Investors Weigh In On Synchrony Financial

A number of large investors have recently added to or reduced their stakes in SYF. Bogart Wealth LLC acquired a new stake in Synchrony Financial during the 4th quarter valued at $26,000. TCTC Holdings LLC acquired a new stake in Synchrony Financial during the 4th quarter valued at $27,000. Larson Financial Group LLC grew its holdings in Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 292 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 253 shares in the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in Synchrony Financial during the 4th quarter valued at $38,000. 96.48% of the stock is owned by institutional investors and hedge funds.

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.