Synchrony Financial (NYSE:SYF) Price Target Raised to $68.00 at Truist Financial

Synchrony Financial (NYSE:SYF - Get Free Report) had its price target upped by Truist Financial from $63.00 to $68.00 in a report released on Friday,Benzinga reports. The firm currently has a "hold" rating on the financial services provider's stock. Truist Financial's target price suggests a potential upside of 13.78% from the company's previous close.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Cfra Research upgraded Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut their price target on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Wells Fargo & Company decreased their price objective on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.78.

Synchrony Financial Trading Down 2.7%

SYF traded down $1.68 during trading on Friday, reaching $59.76. 2,960,007 shares of the company's stock were exchanged, compared to its average volume of 3,918,253. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $22.75 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The firm has a fifty day moving average price of $54.83 and a two-hundred day moving average price of $59.80.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its earnings results 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. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, equities research analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction on 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 sale, the insider now owns 146,628 shares of the company's stock, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Synchrony Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bogart Wealth LLC purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at $27,000. Zions Bancorporation National Association UT purchased a new stake in shares of Synchrony Financial in the first quarter valued at $30,000. Geneos Wealth Management Inc. grew its holdings in shares of Synchrony Financial by 337.0% in the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider's stock worth $31,000 after purchasing an additional 455 shares during the last quarter. Finally, Accredited Wealth Management LLC bought a new position in shares of Synchrony Financial in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

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.