Synchrony Financial (NYSE:SYF) Upgraded to Outperform at Wolfe Research

Synchrony Financial (NYSE:SYF - Get Free Report) was upgraded by equities researchers at Wolfe Research from an "underperform" rating to an "outperform" rating in a report released on Thursday, Marketbeat reports. The brokerage currently has a $50.00 price target on the financial services provider's stock, up from their prior price target of $36.00. Wolfe Research's price target points to a potential upside of 21.45% from the stock's previous close.

Several other equities research analysts have also commented on the company. Piper Sandler upped 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. Bank of America upped their price objective 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 upped their price objective on Synchrony Financial from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, December 18th. Evercore ISI upped their price objective on Synchrony Financial from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Finally, Stephens upped their price objective on Synchrony Financial from $40.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $40.88.

Synchrony Financial Stock Performance

NYSE SYF traded down $0.04 during trading hours on Thursday, reaching $41.17. The stock had a trading volume of 5,745,230 shares, compared to its average volume of 4,532,294. The stock has a fifty day moving average of $40.70 and a 200 day moving average of $35.57. The stock has a market cap of $16.75 billion, a P/E ratio of 7.96, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $43.83. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.22.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.10. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates 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 firm earned $1.26 earnings per share. Sell-side analysts predict that Synchrony Financial will post 5.7 earnings per share for the current year.

Insider Activity at Synchrony Financial

In related news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 660,353 shares of the company's stock, valued at approximately $27,246,164.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares of the company's stock, valued at approximately $552,995.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian D. Doubles sold 134,696 shares of the firm's stock in a transaction on 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 completion of 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. In the last ninety days, insiders sold 148,158 shares of company stock valued at $6,106,106. 0.65% of the stock is owned by insiders.

Institutional Trading of Synchrony Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased 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 worth $1,195,640,000 after acquiring an additional 361,844 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Synchrony Financial by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,123,671 shares of the financial services provider's stock worth $282,786,000 after acquiring an additional 484,220 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Synchrony Financial by 14.9% in the 1st quarter. First Trust Advisors LP now owns 6,791,030 shares of the financial services provider's stock worth $197,483,000 after acquiring an additional 879,797 shares during the last quarter. Invesco Ltd. increased its stake in shares of Synchrony Financial by 16.0% in the 3rd quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider's stock worth $167,187,000 after acquiring 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 3rd quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider's stock worth $152,040,000 after acquiring an additional 178,344 shares during the last quarter. 96.48% of the stock is 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.