Synchrony Financial (NYSE:SYF) Price Target Raised to $77.00 at JMP Securities

Synchrony Financial (NYSE:SYF - Get Free Report) had its target price boosted by JMP Securities from $68.00 to $77.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the financial services provider's stock. JMP Securities' price objective would suggest a potential upside of 9.60% from the company's current price.

A number of other research firms have also commented on SYF. JPMorgan Chase & Co. upped their price objective on shares of Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wells Fargo & Company upped their price objective on shares of Synchrony Financial from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Truist Financial boosted their target price on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, June 13th. Finally, Evercore ISI dropped their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and an average target price of $71.53.

Synchrony Financial Trading Up 1.4%

Shares of NYSE:SYF traded up $0.96 during trading on Thursday, reaching $70.26. The stock had a trading volume of 2,353,553 shares, compared to its average volume of 3,841,807. The firm's fifty day moving average is $62.89 and its 200 day moving average is $59.82. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a 52 week low of $40.55 and a 52 week high of $71.88. The stock has a market cap of $26.74 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 0.71 and a beta of 1.46.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. As a group, equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Insider Activity

In related news, insider Curtis Howse sold 11,380 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the transaction, the insider owned 108,062 shares in the company, valued at approximately $7,024,030. This represents a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the transaction, the insider owned 146,628 shares of the company's stock, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Poinciana Advisors Group LLC bought a new position in Synchrony Financial during the second quarter valued at about $222,000. HB Wealth Management LLC boosted its position in Synchrony Financial by 48.1% during the second quarter. HB Wealth Management LLC now owns 11,783 shares of the financial services provider's stock worth $786,000 after purchasing an additional 3,829 shares during the period. Archford Capital Strategies LLC boosted its position in Synchrony Financial by 30.1% during the second quarter. Archford Capital Strategies LLC now owns 19,041 shares of the financial services provider's stock worth $1,271,000 after purchasing an additional 4,405 shares during the period. V Square Quantitative Management LLC boosted its position in Synchrony Financial by 5.5% during the second quarter. V Square Quantitative Management LLC now owns 10,346 shares of the financial services provider's stock worth $690,000 after purchasing an additional 539 shares during the period. Finally, Fifth Third Bancorp boosted its position in Synchrony Financial by 9.5% during the second quarter. Fifth Third Bancorp now owns 30,935 shares of the financial services provider's stock worth $2,065,000 after purchasing an additional 2,687 shares during the period. Institutional investors own 96.48% of the company's stock.

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.