Truist Financial Increases Synchrony Financial (NYSE:SYF) Price Target to $77.00

Synchrony Financial (NYSE:SYF) had its price target lifted by investment analysts at Truist Financial from $72.00 to $77.00 in a report released on Thursday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 10.91% from the company’s current price.

SYF has been the subject of a number of other reports. The Goldman Sachs Group boosted their price target on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. Bank of America upped their target price on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $60.00 target price on shares of Synchrony Financial in a research note on Monday, October 14th. Finally, Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Seven 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, Synchrony Financial presently has an average rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial Price Performance

SYF traded up $0.66 during trading on Thursday, reaching $69.43. 464,838 shares of the stock were exchanged, compared to its average volume of 3,172,392. The business’s 50 day moving average price is $67.01 and its two-hundred day moving average price is $57.22. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 0.83 and a beta of 1.64. Synchrony Financial has a 1 year low of $37.91 and a 1 year high of $70.93.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. As a group, equities research analysts anticipate that Synchrony Financial will post 6.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now owns 127,587 shares of the company’s stock, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis Howse sold 21,934 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. This represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Bogart Wealth LLC acquired a new position in Synchrony Financial during the fourth quarter valued at $26,000. Larson Financial Group LLC raised its position in Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after buying an additional 292 shares during the period. Y.D. More Investments Ltd raised its position in Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after buying an additional 253 shares during the period. Quarry LP raised its position in 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 buying an additional 675 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Synchrony Financial during the third quarter valued at $50,000. 96.48% of the stock is owned by institutional investors and hedge funds.

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.