Synchrony Financial (NYSE:SYF) PT Raised to $40.00 at Morgan Stanley

by · The Cerbat Gem

Synchrony Financial (NYSE:SYF – Get Free Report) had its price target increased by investment analysts at Morgan Stanley from $37.00 to $40.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential downside of 29.10% from the company’s previous close.

SYF has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their target price on shares of Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. BTIG Research cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Compass Point raised their target price on shares of Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on Synchrony Financial from $49.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Robert W. Baird started coverage on Synchrony Financial in a research report on Friday, June 28th. They set an “outperform” rating and a $56.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.25.

Read Our Latest Report on Synchrony Financial

Synchrony Financial Trading Down 0.5 %

Shares of Synchrony Financial stock opened at $56.42 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a twelve month low of $27.30 and a twelve month high of $57.26. The firm has a market capitalization of $22.30 billion, a PE ratio of 7.84, a P/E/G ratio of 1.26 and a beta of 1.61. The firm’s 50-day moving average price is $49.43 and its 200 day moving average price is $46.60.

Synchrony Financial (NYSE:SYF – Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 earnings per share. On average, sell-side analysts predict that Synchrony Financial will post 5.81 EPS for the current fiscal year.

Insider Buying and Selling at Synchrony Financial

In other news, insider Bart Schaller sold 930 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $50.84, for a total transaction of $47,281.20. Following the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Synchrony Financial

A number of institutional investors and hedge funds have recently made changes to their positions in SYF. Quent Capital LLC lifted its stake in Synchrony Financial by 15.4% in the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 214 shares during the last quarter. Wedmont Private Capital raised its stake in Synchrony Financial by 3.3% during the 3rd quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 242 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Synchrony Financial by 0.5% in the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock valued at $2,465,000 after acquiring an additional 251 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in Synchrony Financial by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock valued at $1,518,000 after acquiring an additional 262 shares in the last quarter. Finally, Certuity LLC grew its holdings in shares of Synchrony Financial by 0.8% during the second quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after purchasing an additional 264 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

About Synchrony Financial

(Get Free Report)

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.

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