Synchrony Financial (SYF) Stock Rating Upgraded by Wells Fargo & Co

Wells Fargo & Co upgraded shares of Synchrony Financial (NYSE:SYF) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $35.00 price objective on the financial services provider’s stock.

A number of other brokerages have also issued reports on SYF. Jefferies Group upped their target price on shares of Synchrony Financial to $44.00 and gave the company a top pick rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods restated a buy rating and issued a $39.00 target price on shares of Synchrony Financial in a research note on Thursday, October 12th. Bank of America upgraded shares of Synchrony Financial from a neutral rating to a buy rating in a research note on Monday, December 18th. Wedbush set a $41.00 target price on shares of Synchrony Financial and gave the company a hold rating in a research note on Monday, December 11th. Finally, Oppenheimer restated a hold rating on shares of Synchrony Financial in a research note on Friday, October 20th. Ten equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of Buy and a consensus price target of $38.40.

Shares of Synchrony Financial (NYSE SYF) traded down $0.39 during trading on Tuesday, hitting $39.37. 8,532,072 shares of the stock were exchanged, compared to its average volume of 6,410,000. The firm has a market cap of $30,810.00, a price-to-earnings ratio of 14.97, a PEG ratio of 1.56 and a beta of 1.06. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38. Synchrony Financial has a 1-year low of $26.01 and a 1-year high of $40.17.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.78 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same quarter in the prior year, the business posted $0.73 EPS. equities analysts expect that Synchrony Financial will post 2.57 EPS for the current year.

In other Synchrony Financial news, insider Jonathan S. Mothner sold 1,500 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $32.82, for a total value of $49,230.00. Following the completion of the transaction, the insider now owns 113,934 shares in the company, valued at approximately $3,739,313.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David P. Melito sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now owns 39,259 shares of the company’s stock, valued at approximately $1,570,360. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,961 shares of company stock valued at $324,508. 0.03% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Westside Investment Management Inc. grew its position in Synchrony Financial by 32.1% in the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 867 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Synchrony Financial by 9.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 486 shares during the last quarter. Highlander Capital Management LLC grew its position in Synchrony Financial by 83.6% in the 2nd quarter. Highlander Capital Management LLC now owns 5,492 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 2,500 shares during the last quarter. SpiderRock Advisors LLC bought a new position in Synchrony Financial in the 3rd quarter worth about $176,000. Finally, Sun Life Financial INC grew its position in Synchrony Financial by 40,207.1% in the 2nd quarter. Sun Life Financial INC now owns 5,643 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 5,629 shares during the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.

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Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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