Synchrony Financial (NYSE:SYF) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Synchrony Financial (NYSE:SYF - Get Free Report) had its target price lifted by The Goldman Sachs Group from $70.00 to $78.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. The Goldman Sachs Group's price objective points to a potential upside of 11.04% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Synchrony Financial from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective on Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. 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 report on Wednesday, April 23rd. Finally, Truist Financial boosted their target price on Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, June 13th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $65.78.

Synchrony Financial Price Performance

Shares of NYSE:SYF traded up $0.78 during mid-day trading on Wednesday, reaching $70.25. The stock had a trading volume of 2,265,856 shares, compared to its average volume of 3,875,644. The business's 50 day moving average price is $59.89 and its 200 day moving average price is $59.54. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93. The company has a market cap of $26.74 billion, a P/E ratio of 9.64, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.26. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. Research analysts expect 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 firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total transaction of $739,700.00. Following the sale, the insider owned 108,062 shares of the company's stock, valued at $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the transaction, the insider directly owned 146,628 shares in the company, 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. Insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. BTC Capital Management Inc. boosted its holdings in shares of Synchrony Financial by 25.9% in the 1st quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock valued at $3,485,000 after acquiring an additional 13,526 shares during the last quarter. Merit Financial Group LLC boosted its holdings in Synchrony Financial by 70.2% in 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 during the last quarter. Clarius Group LLC acquired a new stake in Synchrony Financial during the 1st quarter worth about $242,000. SBI Securities Co. Ltd. acquired a new stake in Synchrony Financial during the 4th quarter worth about $57,000. Finally, SG Americas Securities LLC purchased a new position in shares of Synchrony Financial during the 1st quarter valued at about $2,934,000. 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.