Synchrony Financial (NYSE:SYF) Rating Increased to Outperform at Oppenheimer

Synchrony Financial (NYSE:SYF – Get Rating) was upgraded by analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $35.00 target price on the financial services provider’s stock. Oppenheimer’s target price would indicate a potential upside of 22.85% from the stock’s current price. Oppenheimer also issued estimates for Synchrony Financial’s Q3 2023 earnings at $1.74 EPS.

Several other equities analysts have also recently issued reports on SYF. Bank of America cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 13th. JPMorgan Chase & Co. decreased their price target on shares of Synchrony Financial from $39.00 to $36.00 in a research report on Tuesday, January 10th. Morgan Stanley upped their price target on shares of Synchrony Financial from $29.00 to $31.00 and gave the company an “underweight” rating in a research report on Tuesday, January 24th. StockNews.com began coverage on shares of Synchrony Financial in a research report on Thursday. They issued a “hold” rating for the company. Finally, Wells Fargo & Company upped their price target on shares of Synchrony Financial from $32.00 to $37.00 and gave the company an “equal weight” rating in a research report on Thursday, December 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.13.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $28.49 on Friday. The company has a market cap of $12.45 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.17. The company has a 50 day moving average of $34.70 and a 200-day moving average of $33.86. Synchrony Financial has a 1-year low of $27.22 and a 1-year high of $41.88.

Synchrony Financial (NYSE:SYF – Get Rating) last issued its quarterly earnings data on Monday, January 23rd. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.12 by $0.14. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.04 billion. Synchrony Financial had a net margin of 17.51% and a return on equity of 24.07%. During the same quarter in the prior year, the firm earned $1.48 EPS. As a group, equities research analysts forecast that Synchrony Financial will post 5.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Bart Schaller sold 11,071 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $36.25, for a total value of $401,323.75. Following the transaction, the insider now directly owns 71,664 shares of the company’s stock, valued at $2,597,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Bart Schaller sold 11,071 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $36.25, for a total transaction of $401,323.75. Following the transaction, the insider now directly owns 71,664 shares of the company’s stock, valued at $2,597,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alberto Casellas sold 39,460 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $36.14, for a total transaction of $1,426,084.40. Following the transaction, the insider now directly owns 70,040 shares in the company, valued at $2,531,245.60. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Live Oak Investment Partners bought a new stake in Synchrony Financial in the fourth quarter worth about $27,000. TCI Wealth Advisors Inc. raised its position in Synchrony Financial by 41.9% in the fourth quarter. TCI Wealth Advisors Inc. now owns 935 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 276 shares during the period. Hexagon Capital Partners LLC raised its position in Synchrony Financial by 231.5% in the third quarter. Hexagon Capital Partners LLC now owns 948 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 662 shares during the period. SeaCrest Wealth Management LLC bought a new stake in Synchrony Financial in the second quarter worth about $28,000. Finally, Cowa LLC bought a new stake in Synchrony Financial in the third quarter worth about $28,000. 95.97% of the stock is owned by institutional investors.

About Synchrony Financial

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Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.