Royal Bank of Canada Issues Positive Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF) had its target price raised by analysts at Royal Bank of Canada from $70.00 to $73.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 5.19% from the company’s previous close.

Several other analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Evercore ISI lifted their price target on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial started coverage on Synchrony Financial in a research note on Tuesday, January 7th. They issued a “hold” rating and a $72.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Synchrony Financial Stock Up 0.9 %

Shares of Synchrony Financial stock opened at $69.40 on Wednesday. The business has a 50-day moving average of $67.01 and a 200-day moving average of $57.22. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $27.02 billion, a PE ratio of 9.06, a P/E/G ratio of 0.83 and a beta of 1.64. Synchrony Financial has a 1-year low of $37.91 and a 1-year high of $70.93.

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

Insider Activity

In related news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the transaction, the insider now owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Southpoint Capital Advisors LP increased its stake in shares of Synchrony Financial by 37.9% during the third quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock valued at $229,448,000 after acquiring an additional 1,265,000 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Synchrony Financial by 3.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider’s stock worth $221,830,000 after buying an additional 157,948 shares during the last quarter. Nordea Investment Management AB grew its position in Synchrony Financial by 18.5% in the fourth quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after buying an additional 481,750 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Synchrony Financial by 1.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,199,554 shares of the financial services provider’s stock worth $109,714,000 after buying an additional 37,484 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Synchrony Financial by 8.4% in the third quarter. Victory Capital Management Inc. now owns 2,061,979 shares of the financial services provider’s stock worth $102,852,000 after buying an additional 158,960 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.