Synchrony Financial (NYSE:SYF) Coverage Initiated at Truist Financial

Equities research analysts at Truist Financial started coverage on shares of Synchrony Financial (NYSE:SYF) in a report released on Tuesday,Benzinga reports. The firm set a “hold” rating and a $72.00 price target on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 6.52% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Synchrony Financial from $58.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Evercore ISI increased their target price on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $85.00 in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.98.

Synchrony Financial Trading Up 1.2 %

Shares of NYSE SYF opened at $67.59 on Tuesday. The firm’s 50 day moving average price is $64.93 and its 200-day moving average price is $54.80. The company has a market cap of $26.32 billion, a PE ratio of 8.82, a P/E/G ratio of 0.82 and a beta of 1.64. Synchrony Financial has a 52-week low of $35.29 and a 52-week high of $69.39. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Synchrony Financial will post 6.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now owns 99,743 shares of the company’s stock, valued at $5,498,831.59. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SYF. National Pension Service increased its holdings in shares of Synchrony Financial by 22.7% during the third quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock valued at $47,773,000 after acquiring an additional 177,051 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in Synchrony Financial in the 2nd quarter worth about $951,000. Ensign Peak Advisors Inc boosted its position in Synchrony Financial by 9.1% in the second quarter. Ensign Peak Advisors Inc now owns 443,251 shares of the financial services provider’s stock worth $20,917,000 after purchasing an additional 36,865 shares during the last quarter. National Bank of Canada FI boosted its position in Synchrony Financial by 119.0% in the third quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock worth $12,123,000 after purchasing an additional 132,047 shares during the last quarter. Finally, Brophy Wealth Management LLC purchased a new position in Synchrony Financial in the third quarter worth about $544,000. 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.