Synchrony Financial (NYSE:SYF) Given New $100.00 Price Target at TD Cowen

Synchrony Financial (NYSE:SYF) had its price objective increased by equities research analysts at TD Cowen from $91.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 13.54% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company increased their target price on shares of Synchrony Financial from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday. Evercore ISI raised their price objective on shares of Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Baird R W downgraded shares of Synchrony Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. UBS Group raised their price target on shares of Synchrony Financial from $78.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $75.00 price target (down from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.89.

Synchrony Financial Trading Up 0.7%

NYSE SYF traded up $0.65 on Thursday, hitting $88.08. The company’s stock had a trading volume of 820,512 shares, compared to its average volume of 2,300,128. The company’s 50-day moving average is $79.43 and its 200 day moving average is $74.53. The firm has a market cap of $31.72 billion, a PE ratio of 9.62, a PEG ratio of 0.61 and a beta of 1.43. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $88.53. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91.

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

Synchrony Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 12,086 shares of Synchrony Financial stock in a transaction 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 directly owned 108,271 shares of the company’s stock, valued at $8,014,219.42. The trade was a 10.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darrell Owens sold 2,989 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $221,245.78. Following the transaction, the insider directly owned 16,096 shares in the company, valued at $1,191,425.92. The trade was a 15.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 55,075 shares of company stock valued at $4,036,892 in the last 90 days. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Synchrony Financial

Several large investors have recently made changes to their positions in the business. Brandywine Global Investment Management LLC boosted its holdings in shares of Synchrony Financial by 56.5% during the second quarter. Brandywine Global Investment Management LLC now owns 370,383 shares of the financial services provider’s stock worth $24,719,000 after purchasing an additional 133,780 shares during the period. AQR Capital Management LLC grew its position in shares of Synchrony Financial by 6.1% in the 2nd quarter. AQR Capital Management LLC now owns 4,266,366 shares of the financial services provider’s stock worth $284,737,000 after buying an additional 245,527 shares during the last quarter. Monument Capital Management bought a new stake in shares of Synchrony Financial in the 3rd quarter worth approximately $2,735,000. CWM LLC increased its stake in shares of Synchrony Financial by 50.0% during the third quarter. CWM LLC now owns 58,511 shares of the financial services provider’s stock valued at $4,157,000 after buying an additional 19,513 shares during the period. Finally, Intech Investment Management LLC raised its holdings in shares of Synchrony Financial by 138.4% during the first quarter. Intech Investment Management LLC now owns 110,303 shares of the financial services provider’s stock valued at $5,839,000 after acquiring an additional 64,044 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

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.