Synchrony Financial (NYSE:SYF) Given New $50.00 Price Target at JPMorgan Chase & Co.

Synchrony Financial (NYSE:SYF) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $76.00 to $50.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.45% from the company’s current price.

Other analysts have also issued research reports about the stock. Morgan Stanley reissued an “equal weight” rating and issued a $44.00 price objective (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday. Wells Fargo & Company cut their price objective on Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Truist Financial cut their target price on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Finally, UBS Group increased their target price on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.11.

Synchrony Financial Stock Up 2.0 %

NYSE:SYF traded up $0.87 on Tuesday, hitting $45.68. 972,713 shares of the company’s stock traded hands, compared to its average volume of 3,881,909. The company has a market cap of $17.76 billion, a PE ratio of 5.34, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. Synchrony Financial has a 1 year low of $39.67 and a 1 year high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $58.71 and a 200-day moving average price of $60.66.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Equities analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Synchrony Financial

A number of large investors have recently bought and sold shares of the business. Quarry LP lifted its holdings in shares of Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 675 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Synchrony Financial by 22.8% during the 3rd quarter. Stifel Financial Corp now owns 109,841 shares of the financial services provider’s stock worth $5,479,000 after purchasing an additional 20,410 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in shares of Synchrony Financial by 1.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 59,719 shares of the financial services provider’s stock worth $2,979,000 after purchasing an additional 1,009 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Synchrony Financial during the third quarter worth about $237,000. Finally, National Bank of Canada FI boosted its stake in Synchrony Financial by 119.0% in the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock valued at $12,123,000 after buying an additional 132,047 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Company Profile

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.