Wells Fargo & Company Increases Synchrony Financial (NYSE:SYF) Price Target to $60.00

Synchrony Financial (NYSE:SYF) had its price target increased by equities researchers at Wells Fargo & Company from $53.00 to $60.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 6.35% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group lifted their target price on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI lowered their price objective on Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Morgan Stanley raised their target price on Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a report on Monday, October 14th. Finally, BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Synchrony Financial Stock Down 0.5 %

SYF opened at $56.42 on Thursday. The business has a 50 day moving average of $49.43 and a 200-day moving average of $46.60. The stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 7.84, a P/E/G ratio of 1.26 and a beta of 1.61. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $57.26.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 EPS. As a group, sell-side analysts anticipate that Synchrony Financial will post 5.81 earnings per share for the current year.

Insider Activity

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the sale, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares in the company, valued at $2,510,987.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Synchrony Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swedbank AB boosted its stake in shares of Synchrony Financial by 23.8% in the 2nd quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock valued at $4,694,000 after purchasing an additional 19,098 shares during the last quarter. Cetera Investment Advisers acquired a new position in Synchrony Financial in the first quarter valued at approximately $2,192,000. Nordea Investment Management AB boosted its stake in Synchrony Financial by 33.5% in the first quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock valued at $115,266,000 after acquiring an additional 674,366 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Synchrony Financial by 98.6% during the 1st quarter. Meeder Asset Management Inc. now owns 23,859 shares of the financial services provider’s stock worth $1,029,000 after acquiring an additional 11,846 shares during the period. Finally, Sei Investments Co. raised its position in shares of Synchrony Financial by 52.6% during the 1st quarter. Sei Investments Co. now owns 490,147 shares of the financial services provider’s stock valued at $21,134,000 after acquiring an additional 168,920 shares during the last quarter. 96.48% of the stock is currently 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.