Synchrony Financial (NYSE:SYF) Price Target Raised to $80.00

Key Points

• Bank of America has raised its price target for Synchrony Financial from $75.00 to $80.00, indicating a potential upside of 6.92% from the current market price.
• Multiple analysts have upgraded their targets for Synchrony Financial, with an overall consensus rating of "Moderate Buy" and an average price target of $73.79.
• Synchrony Financial reported earnings per share of $2.50, significantly surpassing analysts' expectations of $1.72, despite a slight decline in revenue year-over-year.

Synchrony Financial (NYSE:SYF - Get Free Report) had its target price increased by stock analysts at Bank of America from $75.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Bank of America's price target would indicate a potential upside of 6.92% from the stock's current price.

A number of other research analysts have also commented on SYF. JPMorgan Chase & Co. upped their target price on Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. JMP Securities raised their price target on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a report on Thursday, July 17th. Royal Bank Of Canada raised their target price on shares of Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Truist Financial raised their target price on shares of Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of Synchrony Financial from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $73.79.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $74.82 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a fifty-two week low of $40.54 and a fifty-two week high of $77.41. The firm has a fifty day moving average price of $71.97 and a two-hundred day moving average price of $61.38. The company has a market cap of $27.84 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.76 and a beta of 1.49.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the firm earned $1.55 EPS. The business's revenue was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. Analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Insider Buying and Selling

In related news, insider Darrell Owens sold 600 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following the transaction, the insider directly owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the transaction, the insider directly owned 108,062 shares in the company, valued at $7,024,030. The trade was a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,494 shares of company stock worth $1,376,450. Insiders own 0.32% of the company's stock.

Institutional Trading of Synchrony Financial

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Synchrony Financial by 30.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock worth $3,895,000 after acquiring an additional 17,061 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Synchrony Financial during the first quarter valued at about $11,506,000. BTC Capital Management Inc. boosted its stake in shares of Synchrony Financial by 25.9% during the first quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock valued at $3,485,000 after purchasing an additional 13,526 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of Synchrony Financial by 70.2% during the first quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock valued at $564,000 after purchasing an additional 4,397 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Synchrony Financial by 1.3% during the first quarter. AQR Capital Management LLC now owns 4,020,839 shares of the financial services provider's stock worth $206,711,000 after acquiring an additional 50,162 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.

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