Synchrony Financial (NYSE:SYF) Price Target Increased to $56.00 by Analysts at Bank of America

Synchrony Financial (NYSE:SYF) had its price target lifted by investment analysts at Bank of America from $51.00 to $56.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 7.24% from the company’s previous close.

Other analysts have also issued research reports about the company. JMP Securities upped their price objective on Synchrony Financial from $49.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Synchrony Financial in a research report on Tuesday, June 11th. BTIG Research initiated coverage on Synchrony Financial in a research report on Friday, June 7th. They set a “buy” rating and a $60.00 price objective on the stock. Compass Point initiated coverage on Synchrony Financial in a research report on Tuesday. They set a “buy” rating and a $56.00 price objective on the stock. Finally, TD Cowen upped their price objective on Synchrony Financial from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $48.13.

Synchrony Financial Stock Up 1.0 %

SYF stock opened at $52.22 on Thursday. The firm has a market cap of $20.97 billion, a PE ratio of 7.49, a PEG ratio of 1.21 and a beta of 1.63. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24. The firm’s 50 day moving average price is $45.20 and its 200-day moving average price is $42.27. Synchrony Financial has a one year low of $27.30 and a one year high of $52.67.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter in the previous year, the company earned $1.32 earnings per share. On average, equities research analysts anticipate that Synchrony Financial will post 5.7 EPS for the current year.

Synchrony Financial declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 31,562 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total value of $1,420,290.00. Following the sale, the insider now directly owns 121,042 shares in the company, valued at $5,446,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Synchrony Financial

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Synchrony Financial during the first quarter worth approximately $28,000. Versant Capital Management Inc boosted its position in Synchrony Financial by 786.6% during the second quarter. Versant Capital Management Inc now owns 1,055 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 936 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Synchrony Financial in the 1st quarter valued at $60,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Synchrony Financial by 56.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 522 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Synchrony Financial in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

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.