Wells Fargo & Company Cuts Synchrony Financial (NYSE:SYF) Price Target to $70.00

Synchrony Financial (NYSE:SYF) had its price objective decreased by Wells Fargo & Company from $85.00 to $70.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also commented on SYF. Truist Financial decreased their price target on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Royal Bank of Canada increased their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. UBS Group lifted their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Compass Point downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Tuesday, January 28th. Finally, Morgan Stanley raised Synchrony Financial from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $68.26.

Synchrony Financial Price Performance

NYSE SYF opened at $43.76 on Thursday. The company has a market cap of $17.01 billion, a PE ratio of 5.12, a P/E/G ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. 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 firm’s 50 day moving average price is $59.21 and its 200-day moving average price is $60.62.

Synchrony Financial (NYSE:SYF) last announced its earnings results 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 return on equity of 18.30% and a net margin of 15.36%. Sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.29%. Synchrony Financial’s payout ratio is currently 11.71%.

Institutional Trading of Synchrony Financial

Hedge funds have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in Synchrony Financial by 18.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,411 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 370 shares during the period. California State Teachers Retirement System lifted its stake in shares of Synchrony Financial by 3.1% in the 4th quarter. California State Teachers Retirement System now owns 542,243 shares of the financial services provider’s stock valued at $35,246,000 after purchasing an additional 16,140 shares during the period. 111 Capital acquired a new position in shares of Synchrony Financial in the 4th quarter valued at $1,271,000. Wealth Enhancement Advisory Services LLC grew its position in Synchrony Financial by 220.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 64,145 shares of the financial services provider’s stock valued at $4,169,000 after buying an additional 44,150 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in Synchrony Financial in the fourth quarter valued at $371,000. Hedge funds and other institutional investors 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.