Truist Financial Forecasts Strong Price Appreciation for Synchrony Financial (NYSE:SYF) Stock

Synchrony Financial (NYSE:SYF) had its target price boosted by Truist Financial from $63.00 to $68.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 13.78% from the company’s previous close.

Several other analysts also recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Wall Street Zen upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Morgan Stanley reissued an “equal weight” rating and set a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price objective on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Cfra Research raised Synchrony Financial to a “hold” rating in a report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus target price of $64.78.

Synchrony Financial Price Performance

Shares of SYF opened at $59.76 on Friday. Synchrony Financial has a fifty-two week low of $40.55 and a fifty-two week high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50-day simple moving average is $54.83 and its two-hundred day simple moving average is $59.75. The stock has a market cap of $22.75 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.26. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. Analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the transaction, the insider now directly owns 146,628 shares of the company’s stock, valued at $8,807,943.96. The trade was a 21.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC bought a new position in Synchrony Financial during the 4th quarter valued at $26,000. TCTC Holdings LLC bought a new position in Synchrony Financial during the fourth quarter worth about $27,000. Zions Bancorporation National Association UT purchased a new position in Synchrony Financial in the 1st quarter valued at approximately $30,000. Geneos Wealth Management Inc. raised its stake in shares of Synchrony Financial by 337.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 455 shares during the period. Finally, Accredited Wealth Management LLC bought a new stake in shares of Synchrony Financial during the fourth quarter valued at about $38,000. 96.48% of the stock is currently owned by institutional investors.

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.