Bank of America Corporation Lowers Synchrony Financial (SYF) to Neutral

Bank of America Corporation lowered shares of Synchrony Financial (NYSE:SYF) from a buy rating to a neutral rating in a report published on Friday morning, MarketBeat Ratings reports. Bank of America Corporation currently has $33.00 price target on the financial services provider’s stock, down from their previous price target of $35.00.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Synchrony Financial from a hold rating to a sell rating in a research report on Monday, September 25th. Jefferies Group LLC reaffirmed a buy rating and set a $40.00 price target on shares of Synchrony Financial in a research report on Thursday, September 21st. Morgan Stanley lowered Synchrony Financial from an overweight rating to an equal weight rating and lowered their price target for the stock from $35.00 to $32.00 in a research report on Friday, September 8th. BidaskClub raised Synchrony Financial from a sell rating to a hold rating in a research report on Saturday, August 26th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $40.00 price target on shares of Synchrony Financial in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $37.09.

Synchrony Financial (SYF) opened at 31.31 on Friday. The firm has a market cap of $24.90 billion, a P/E ratio of 11.76 and a beta of 1.01. The firm’s 50-day moving average price is $30.10 and its 200 day moving average price is $30.08. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, equities research analysts forecast that Synchrony Financial will post $2.59 EPS for the current year.

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In other news, Director Paget Leonard Alves purchased 2,000 shares of Synchrony Financial stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the purchase, the director now directly owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. boosted its stake in Synchrony Financial by 32.1% in the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 867 shares during the period. First Quadrant L P CA boosted its stake in Synchrony Financial by 55.4% in the 2nd quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 1,328 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Synchrony Financial by 39.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 1,280 shares during the period. State of Alaska Department of Revenue boosted its stake in Synchrony Financial by 19.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 880 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Synchrony Financial by 9.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 486 shares during the period. Institutional investors and hedge funds own 87.07% of the company’s stock.

Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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