Synchrony Financial (NYSE:SYF) Given New $45.00 Price Target at Wells Fargo & Company

Synchrony Financial (NYSE:SYF - Get Free Report) had its target price hoisted by investment analysts at Wells Fargo & Company from $38.00 to $45.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price target suggests a potential upside of 8.59% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley reiterated an "underweight" rating and issued a $30.00 price target on shares of Synchrony Financial in a research note on Thursday, February 8th. Bank of America boosted their price target on Synchrony Financial from $41.00 to $43.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 6th. The Goldman Sachs Group raised their price objective on Synchrony Financial from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, December 18th. Oppenheimer reissued a "market perform" rating on shares of Synchrony Financial in a report on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Synchrony Financial in a report on Wednesday, January 10th. They set a "buy" rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial currently has an average rating of "Hold" and a consensus target price of $41.44.

Synchrony Financial Stock Down 2.1 %

Shares of NYSE:SYF traded down $0.89 during midday trading on Wednesday, reaching $41.44. The company had a trading volume of 4,033,610 shares, compared to its average volume of 4,480,713. The business's 50 day moving average price is $40.91 and its 200 day moving average price is $35.87. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $43.83. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. The stock has a market cap of $16.86 billion, a PE ratio of 7.92, a P/E/G ratio of 1.03 and a beta of 1.61.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.10. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same quarter in the prior year, the business posted $1.26 EPS. Research analysts forecast that Synchrony Financial will post 5.7 EPS for the current fiscal year.

Insider Activity

In related news, insider Curtis Howse sold 6,179 shares of the firm'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 transaction, the insider now owns 152,604 shares in the company, valued at $6,534,503.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Curtis Howse sold 6,179 shares of Synchrony Financial 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 transaction, the insider now directly owns 152,604 shares of the company's stock, valued at $6,534,503.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian D. Doubles sold 134,696 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now owns 660,353 shares of the company's stock, valued at $27,246,164.78. The disclosure for this sale can be found here. In the last three months, insiders sold 148,158 shares of company stock worth $6,106,106. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SYF. BlackRock Inc. lifted its stake in shares of Synchrony Financial by 0.9% in the 1st quarter. BlackRock Inc. now owns 41,115,547 shares of the financial services provider's stock valued at $1,195,640,000 after acquiring an additional 361,844 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Synchrony Financial by 6.3% in the first quarter. Goldman Sachs Group Inc. now owns 8,123,671 shares of the financial services provider's stock valued at $282,786,000 after purchasing an additional 484,220 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Synchrony Financial by 14.9% during the first quarter. First Trust Advisors LP now owns 6,791,030 shares of the financial services provider's stock valued at $197,483,000 after purchasing an additional 879,797 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Synchrony Financial by 16.0% during the third quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider's stock worth $167,187,000 after purchasing an additional 755,856 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Synchrony Financial by 3.7% in the third quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider's stock valued at $152,040,000 after buying an additional 178,344 shares during the period. Institutional investors and hedge funds own 96.48% of the company's stock.

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.