Synchrony Financial (NYSE:SYF) PT Lowered to $41.00

Synchrony Financial (NYSE:SYF) had its target price decreased by research analysts at BMO Capital Markets from $42.00 to $41.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would suggest a potential downside of 21.12% from the company’s current price.

Several other research firms also recently issued reports on SYF. Wolfe Research raised shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $50.00 in a report on Thursday, April 4th. Bank of America raised their target price on shares of Synchrony Financial from $51.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday. Jefferies Financial Group lifted their price target on Synchrony Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $62.00 target price on shares of Synchrony Financial in a report on Tuesday, June 11th. Finally, Wells Fargo & Company lifted their price target on shares of Synchrony Financial from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus price target of $48.13.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock traded down $0.24 on Thursday, reaching $51.98. 269,023 shares of the stock were exchanged, compared to its average volume of 4,243,257. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $52.67. The business has a 50 day moving average price of $45.20 and a two-hundred day moving average price of $42.27. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 1.21 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.20. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations 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 firm posted $1.32 EPS. Analysts anticipate that Synchrony Financial will post 5.7 earnings per share for the current fiscal year.

Synchrony Financial declared that its board has authorized a share buyback program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, insider Curtis Howse sold 31,562 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 121,042 shares of the company’s stock, valued at approximately $5,446,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently modified their holdings of SYF. CX Institutional purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at $214,000. Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of Synchrony Financial in the 4th quarter valued at $1,390,000. AustralianSuper Pty Ltd grew its stake in shares of Synchrony Financial by 12.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 3,282,015 shares of the financial services provider’s stock valued at $125,340,000 after buying an additional 371,304 shares during the period. Raymond James & Associates increased its holdings in shares of Synchrony Financial by 29.4% during the 4th quarter. Raymond James & Associates now owns 325,697 shares of the financial services provider’s stock worth $12,438,000 after buying an additional 74,080 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new position in Synchrony Financial in the fourth quarter valued at $141,000. 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.