Synchrony Financial (NYSE:SYF) PT Raised to $51.00 at TD Cowen

Synchrony Financial (NYSE:SYF) had its target price lifted by equities researchers at TD Cowen from $49.00 to $51.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 15.70% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Synchrony Financial in a research report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 target price for the company. Evercore ISI upped their target price on Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. JMP Securities upped their target price on Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Friday, January 12th. Stephens increased their price target on Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Finally, BMO Capital Markets increased their price target on Synchrony Financial from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.72.

Synchrony Financial Trading Down 2.1 %

SYF stock traded down $0.94 during trading on Thursday, reaching $44.08. 2,547,814 shares of the stock traded hands, compared to its average volume of 4,495,310. The business’s 50 day moving average price is $41.47 and its 200-day moving average price is $36.70. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $45.33. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $17.93 billion, a PE ratio of 8.51, a P/E/G ratio of 1.06 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the firm posted $1.35 EPS. As a group, sell-side analysts forecast that Synchrony Financial will post 5.57 earnings per share for the current year.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now directly owns 152,604 shares in the company, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares in the company, valued at approximately $6,534,503.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David P. Melito sold 7,283 shares of Synchrony Financial stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now owns 14,183 shares in the company, valued at $552,995.17. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock worth $6,106,106 in the last three months. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synchrony Financial

A number of hedge funds have recently modified their holdings of SYF. Assenagon Asset Management S.A. grew its holdings in shares of Synchrony Financial by 995.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,599,443 shares of the financial services provider’s stock worth $241,448,000 after acquiring an additional 5,088,262 shares during the last quarter. Norges Bank acquired a new position in shares of Synchrony Financial in the 4th quarter worth $182,739,000. Boston Partners grew its holdings in shares of Synchrony Financial by 158.9% in the 3rd quarter. Boston Partners now owns 3,095,762 shares of the financial services provider’s stock worth $94,609,000 after acquiring an additional 1,900,216 shares during the last quarter. KBC Group NV grew its holdings in shares of Synchrony Financial by 362.0% in the 4th quarter. KBC Group NV now owns 1,981,883 shares of the financial services provider’s stock worth $75,688,000 after acquiring an additional 1,552,946 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Synchrony Financial by 16.0% in the 3rd quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock worth $167,187,000 after acquiring an additional 755,856 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.