Wells Fargo & Company Issues Positive Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF - Get Free Report) had its price target upped by equities researchers at Wells Fargo & Company from $75.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price target suggests a potential upside of 11.40% from the stock's current price.

Several other brokerages have also commented on SYF. Truist Financial raised their price objective on Synchrony Financial from $63.00 to $68.00 and gave the company a "hold" rating in a report on Friday, June 13th. BTIG Research raised Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday, July 14th. Wall Street Zen raised Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on Synchrony Financial from $52.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Barclays reduced their price objective on Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.17.

Synchrony Financial Stock Performance

SYF stock traded down $0.27 during trading on Wednesday, hitting $71.81. 4,755,507 shares of the company traded hands, compared to its average volume of 3,179,124. The stock's 50-day simple moving average is $64.00 and its 200 day simple moving average is $59.99. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.24 and a quick ratio of 1.25. The company has a market cap of $26.72 billion, a PE ratio of 8.72, a P/E/G ratio of 0.74 and a beta of 1.46. Synchrony Financial has a 1 year low of $40.54 and a 1 year high of $72.73.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company earned $1.55 earnings per share. Synchrony Financial's quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the sale, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the sale, the insider owned 108,062 shares in the company, valued at $7,024,030. This represents a 9.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On Synchrony Financial

Several institutional investors and hedge funds have recently modified their holdings of SYF. Zions Bancorporation National Association UT purchased a new stake in shares of Synchrony Financial in the 1st quarter valued at $30,000. Geneos Wealth Management Inc. raised its holdings in shares of Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider's stock valued at $31,000 after buying an additional 455 shares during the period. MAI Capital Management increased its holdings in Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider's stock worth $33,000 after purchasing an additional 167 shares during the period. Headlands Technologies LLC purchased a new stake in Synchrony Financial during the 1st quarter worth about $34,000. Finally, CVA Family Office LLC increased its holdings in Synchrony Financial by 355.9% during the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after purchasing an additional 541 shares during the period. 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.