Synchrony Financial (NYSE:SYF) Upgraded at Redburn Atlantic

Key Points

• Synchrony Financial received a "hold" rating upgrade from Redburn Atlantic, marking a notable change in analysts' perspectives on the stock.
• Multiple analysts have provided varying price objectives for the stock, with recommendations ranging from a "sector perform" rating at $78.00 to a "buy" rating with a price target of $100.00.
• In its latest quarterly report, Synchrony Financial posted $2.50 earnings per share (EPS), significantly surpassing analysts' expectations of $1.72, although its revenue declined 1.8% year-over-year.

Synchrony Financial (NYSE:SYF - Get Free Report) was upgraded by research analysts at Redburn Atlantic to a "hold" rating in a research note issued on Friday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Royal Bank Of Canada boosted their price objective on Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. JMP Securities boosted their price objective on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a research note on Thursday, July 17th. Evercore ISI decreased their price objective on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price objective on Synchrony Financial from $52.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, BTIG Research upgraded Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Monday, July 14th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.05.

Synchrony Financial Stock Down 3.2%

Shares of NYSE SYF opened at $67.43 on Friday. Synchrony Financial has a one year low of $40.54 and a one year high of $73.76. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.24. The business's fifty day moving average price is $65.44 and its 200-day moving average price is $60.21. The stock has a market capitalization of $25.09 billion, a PE ratio of 8.18, a P/E/G ratio of 0.69 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 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The firm had revenue of $3.65 billion for the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Insider Activity

In related news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction dated 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 sale, the insider directly owned 146,628 shares in the company, valued at $8,807,943.96. This represents a 21.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Curtis Howse sold 11,380 shares of the 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 sale, the insider owned 108,062 shares of the company's stock, valued at $7,024,030. This represents a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Synchrony Financial

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Synchrony Financial by 30.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock valued at $3,895,000 after acquiring an additional 17,061 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Synchrony Financial in the 1st quarter worth approximately $11,506,000. BTC Capital Management Inc. grew its position 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 worth $3,485,000 after buying an additional 13,526 shares during the last quarter. Merit Financial Group LLC grew its position in shares of Synchrony Financial by 70.2% in the 1st quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock worth $564,000 after buying an additional 4,397 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Synchrony Financial by 2.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider's stock worth $12,545,000 after buying an additional 5,765 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

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.

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