Synchrony Financial (NYSE:SYF) Stock Rating Upgraded by Keefe, Bruyette & Woods

Synchrony Financial (NYSE:SYF) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a $62.00 price objective on the financial services provider’s stock, up from their prior price objective of $45.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 35.96% from the stock’s previous close.

Several other research analysts also recently issued reports on SYF. Barclays raised their price objective on shares of Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Piper Sandler increased their price objective on Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Stephens upped their price target on Synchrony Financial from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets upped their price objective on shares of Synchrony Financial from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.74.

Synchrony Financial Stock Up 1.3 %

Shares of SYF stock traded up $0.60 on Thursday, reaching $45.60. 3,485,300 shares of the stock were exchanged, compared to its average volume of 4,323,139. Synchrony Financial has a twelve month low of $26.59 and a twelve month high of $45.91. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $18.31 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 1.11 and a beta of 1.58. The business’s 50 day moving average price is $42.04 and its 200 day moving average price is $37.28.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.19). The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same quarter in the previous year, the firm earned $1.35 EPS. As a group, sell-side analysts expect that Synchrony Financial will post 5.62 earnings per share for the current fiscal year.

Synchrony Financial declared that its board has approved a stock repurchase program on Wednesday, April 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Synchrony Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in Synchrony Financial during the 3rd quarter worth $35,000. Massmutual Trust Co. FSB ADV grew its holdings in Synchrony Financial by 44.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after buying an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Synchrony Financial during the fourth quarter worth approximately $55,000. Brown Brothers Harriman & Co. boosted its position in shares of Synchrony Financial by 56.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 522 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of Synchrony Financial in the fourth quarter worth $60,000. 96.48% of the stock is currently 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.