Truist Financial Issues Positive Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF) had its price target lifted by Truist Financial from $78.00 to $92.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

SYF has been the topic of a number of other research reports. Wall Street Zen cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Baird R W cut shares of Synchrony Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Wells Fargo & Company boosted their target price on Synchrony Financial from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Robert W. Baird reaffirmed a “neutral” rating and set a $82.00 price target on shares of Synchrony Financial in a research report on Friday, December 5th. Finally, JMP Securities lifted their price target on Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.33.

Synchrony Financial Stock Up 1.4%

NYSE SYF opened at $85.88 on Monday. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $86.22. The business has a fifty day moving average price of $76.48 and a two-hundred day moving average price of $72.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $30.93 billion, a PE ratio of 9.38, a PEG ratio of 0.59 and a beta of 1.46.

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

Synchrony Financial declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 15th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. Synchrony Financial’s dividend payout ratio is presently 13.10%.

Insider Activity at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 32,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $72.80, for a total value of $2,329,600.00. Following the completion of the transaction, the insider directly owned 127,100 shares in the company, valued at approximately $9,252,880. The trade was a 20.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Curtis Howse sold 12,086 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $894,605.72. Following the transaction, the insider owned 108,271 shares in the company, valued at $8,014,219.42. The trade was a 10.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 55,075 shares of company stock valued at $4,036,892. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Algert Global LLC purchased a new position in shares of Synchrony Financial during the first quarter valued at approximately $522,000. Compound Planning Inc. grew its stake in shares of Synchrony Financial by 12.9% during the 1st quarter. Compound Planning Inc. now owns 6,421 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 732 shares during the period. 1832 Asset Management L.P. raised its holdings in Synchrony Financial by 9.9% during the first quarter. 1832 Asset Management L.P. now owns 41,845 shares of the financial services provider’s stock valued at $2,215,000 after acquiring an additional 3,771 shares during the period. Groupe la Francaise lifted its holdings in Synchrony Financial by 35.5% in the 1st quarter. Groupe la Francaise now owns 1,236 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 324 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Synchrony Financial by 1.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 20,563 shares of the financial services provider’s stock valued at $1,089,000 after acquiring an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

About Synchrony Financial

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.