Synchrony Financial (NYSE:SYF) Given New $82.00 Price Target at The Goldman Sachs Group

Synchrony Financial (NYSE:SYF) had its price objective increased by The Goldman Sachs Group from $72.50 to $82.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on SYF. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of Synchrony Financial in a report on Monday, October 14th. Truist Financial assumed coverage on shares of Synchrony Financial in a research report on Tuesday. They set a “hold” rating and a $72.00 price target for the company. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $59.00 to $79.00 in a research report on Monday. Evercore ISI boosted their price objective on Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.43.

Synchrony Financial Stock Down 1.2 %

Shares of SYF opened at $65.80 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a one year low of $35.29 and a one year high of $69.39. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.82 and a beta of 1.64. The stock has a 50 day moving average price of $65.34 and a 200 day moving average price of $55.03.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.17. The company 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 16.64% and a net margin of 13.98%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.48 EPS. Equities research analysts forecast that Synchrony Financial will post 6.51 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.05%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Graypoint LLC boosted its holdings in Synchrony Financial by 4.0% in the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 181 shares in the last quarter. Empirical Finance LLC grew its stake in shares of Synchrony Financial by 1.3% during the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 204 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Synchrony Financial by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after purchasing an additional 227 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Synchrony Financial by 3.3% in the third quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 242 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in Synchrony Financial by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after buying an additional 251 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

About Synchrony Financial

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.