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

Synchrony Financial (NYSE:SYF) had its price objective lowered by analysts at Truist Financial from $77.00 to $65.00 in a report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 20.72% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Bank of America boosted their price target on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods boosted their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $85.00 in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.10.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $53.85 on Friday. The firm has a market capitalization of $20.93 billion, a PE ratio of 6.31, a P/E/G ratio of 0.71 and a beta of 1.67. The company has a 50 day moving average price of $62.61 and a 200-day moving average price of $60.17. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, equities research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Institutional Trading of Synchrony Financial

Several hedge funds have recently bought and sold shares of SYF. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial in the fourth quarter worth about $26,000. TCTC Holdings LLC bought a new stake in Synchrony Financial in the 4th quarter worth approximately $27,000. Larson Financial Group LLC raised its holdings in shares of Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 292 shares in the last quarter. Y.D. More Investments Ltd boosted its position in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 253 shares during the last quarter. Finally, Accredited Wealth Management LLC purchased a new position in shares of Synchrony Financial in the fourth quarter valued at $38,000. Hedge funds and other institutional investors 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.