Synchrony Financial (NYSE:SYF) Price Target Raised to $75.00 at Wells Fargo & Company

Synchrony Financial (NYSE:SYF - Free Report) had its target price boosted by Wells Fargo & Company from $65.00 to $75.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

SYF has been the subject of several other reports. Evercore ISI dropped their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their target price on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Morgan Stanley restated an "equal weight" rating and issued a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Finally, Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a report on Tuesday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $65.33.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded up $1.46 during midday trading on Tuesday, hitting $68.20. 3,797,303 shares of the company traded hands, compared to its average volume of 3,881,452. The firm's fifty day moving average price is $58.37 and its 200-day moving average price is $59.38. The stock has a market cap of $25.96 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.68 and a beta of 1.44. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93. 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 (NYSE:SYF - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping 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 firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. As a group, sell-side analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 5th. Synchrony Financial's dividend payout ratio is presently 16.46%.

Insider Buying and Selling at Synchrony Financial

In related news, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the transaction, the insider owned 108,062 shares of the company's stock, valued at approximately $7,024,030. This trade represents a 9.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the transaction, the insider owned 146,628 shares of the company's stock, valued at $8,807,943.96. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its stake in shares of Synchrony Financial by 22.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 21,203 shares of the financial services provider's stock worth $1,378,000 after purchasing an additional 3,824 shares during the period. SVB Wealth LLC purchased a new position in Synchrony Financial in the fourth quarter valued at about $556,000. US Bancorp DE boosted its stake in Synchrony Financial by 52.8% in the fourth quarter. US Bancorp DE now owns 64,485 shares of the financial services provider's stock valued at $4,192,000 after acquiring an additional 22,269 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Synchrony Financial by 116.5% during the 4th quarter. Jones Financial Companies Lllp now owns 11,059 shares of the financial services provider's stock valued at $719,000 after acquiring an additional 5,952 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Synchrony Financial during the 4th quarter worth approximately $57,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

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.