The Goldman Sachs Group Increases Synchrony Financial (NYSE:SYF) Price Target to $82.00

Synchrony Financial (NYSE:SYF) had its price target increased by equities researchers at The Goldman Sachs Group from $72.50 to $82.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 24.62% from the stock’s current price.

SYF has been the topic of several other research reports. TD Cowen lifted their price target on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research report on Monday, October 14th. Truist Financial started coverage on shares of Synchrony Financial in a research note on Tuesday. They set a “hold” rating and a $72.00 price target for the company. Wells Fargo & Company upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $85.00 in a research note on Tuesday, December 3rd. Finally, Robert W. Baird set a $62.00 target price on shares of Synchrony Financial in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average price target of $65.43.

Synchrony Financial Trading Down 1.2 %

Shares of Synchrony Financial stock opened at $65.80 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $65.55 and a 200-day simple moving average of $55.11. The stock has a market cap of $25.62 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.82 and a beta of 1.64. Synchrony Financial has a 12-month low of $35.29 and a 12-month high of $69.39.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the company posted $1.48 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that Synchrony Financial will post 6.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

Several hedge funds have recently bought and sold shares of SYF. National Pension Service boosted its stake in shares of Synchrony Financial by 22.7% during the third quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock valued at $47,773,000 after acquiring an additional 177,051 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in Synchrony Financial in the 2nd quarter valued at about $951,000. Ensign Peak Advisors Inc lifted its holdings in Synchrony Financial by 9.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 443,251 shares of the financial services provider’s stock valued at $20,917,000 after purchasing an additional 36,865 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Synchrony Financial by 119.0% during the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock worth $12,123,000 after purchasing an additional 132,047 shares during the last quarter. Finally, Brophy Wealth Management LLC purchased a new stake in shares of Synchrony Financial during the third quarter worth about $544,000. Hedge funds and other institutional investors 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.