JPMorgan Chase & Co. Boosts Synchrony Financial (NYSE:SYF) Price Target to $86.00

Synchrony Financial (NYSE:SYF) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $75.00 to $86.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 8.13% from the company’s current price.

Several other equities research analysts also recently weighed in on SYF. Wells Fargo & Company upped their price objective on shares of Synchrony Financial from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Wall Street Zen downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. UBS Group increased their price objective on shares of Synchrony Financial from $78.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. HSBC raised Synchrony Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $73.00 to $81.00 in a report on Friday, October 10th. Finally, Truist Financial increased their price target on Synchrony Financial from $78.00 to $92.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.47.

Synchrony Financial Stock Performance

Shares of SYF traded down $7.35 during midday trading on Monday, hitting $79.54. 6,087,483 shares of the stock traded hands, compared to its average volume of 3,080,285. The business’s 50 day moving average price is $79.96 and its two-hundred day moving average price is $74.93. The firm has a market capitalization of $28.65 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.60 and a beta of 1.43. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $88.77.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.22 by $0.64. The company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. Synchrony Financial’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $1.94 earnings per share. Equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial declared that its board has approved a stock repurchase plan on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Darrell Owens sold 2,989 shares of Synchrony Financial stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $221,245.78. Following the completion of the sale, the insider directly owned 16,096 shares in the company, valued at $1,191,425.92. The trade was a 15.66% 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. Also, insider Jonathan S. Mothner sold 32,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $72.80, for a total transaction of $2,329,600.00. Following the completion of the sale, the insider owned 127,100 shares of the company’s stock, valued at $9,252,880. This represents a 20.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,075 shares of company stock valued at $4,036,892 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several hedge funds have recently modified their holdings of SYF. Westside Investment Management Inc. raised its stake in shares of Synchrony Financial by 100.0% in the third quarter. Westside Investment Management Inc. now owns 358 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 179 shares in the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in Synchrony Financial in the 2nd quarter valued at $26,000. FWL Investment Management LLC acquired a new position in shares of Synchrony Financial in the 3rd quarter valued at $26,000. Salomon & Ludwin LLC lifted its holdings in shares of Synchrony Financial by 54.9% during the 3rd quarter. Salomon & Ludwin LLC now owns 412 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 146 shares during the period. Finally, Palisade Asset Management LLC acquired a new stake in shares of Synchrony Financial during the 3rd quarter valued at about $29,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.