TD Cowen Forecasts Strong Price Appreciation for Synchrony Financial (NYSE:SYF) Stock

by · The Cerbat Gem

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

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Synchrony Financial from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Morgan Stanley boosted their price objective on Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods raised their target price on shares of Synchrony Financial from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Baird R W lowered shares of Synchrony Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $75.00 price objective (down previously from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.89.

Check Out Our Latest Research Report on Synchrony Financial

Synchrony Financial Price Performance

NYSE SYF traded up $0.65 on Thursday, reaching $88.08. The company’s stock had a trading volume of 820,512 shares, compared to its average volume of 2,300,128. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $88.53. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50 day moving average is $79.43 and its two-hundred day moving average is $74.53. The stock 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 (NYSE:SYF – Get Free Report) last released its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. As a group, sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial declared that its board has approved a stock buyback program on Wednesday, October 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Synchrony Financial news, Director Arthur W. Coviello, Jr. sold 8,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $73.93, for a total value of $591,440.00. Following the sale, the director directly owned 35,769 shares in the company, valued at $2,644,402.17. This trade represents a 18.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Curtis Howse sold 12,086 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total value of $894,605.72. Following the sale, the insider owned 108,271 shares in the company, valued at approximately $8,014,219.42. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 55,075 shares of company stock worth $4,036,892. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Synchrony Financial by 273.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 177,780 shares of the financial services provider’s stock valued at $15,739,000 after buying an additional 130,136 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in Synchrony Financial by 48.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 6,250 shares of the financial services provider’s stock valued at $542,000 after acquiring an additional 2,035 shares during the last quarter. Wedmont Private Capital grew its position in Synchrony Financial by 4.2% in the fourth quarter. Wedmont Private Capital now owns 9,236 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 374 shares during the last quarter. Nordea Investment Management AB raised its stake in Synchrony Financial by 13.0% during the fourth quarter. Nordea Investment Management AB now owns 5,134,903 shares of the financial services provider’s stock worth $431,999,000 after acquiring an additional 592,567 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Synchrony Financial by 14.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,199 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 283 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

About Synchrony Financial

(Get Free Report)

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.

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