Truist Financial Lowers Synchrony Financial (NYSE:SYF) Price Target to $65.00

Synchrony Financial (NYSE:SYF) had its price objective decreased by stock analysts at Truist Financial from $77.00 to $65.00 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 20.22% from the company’s current price.

A number of other brokerages have also recently commented on SYF. The Goldman Sachs Group reduced their target price on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Bank of America boosted their price target on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Finally, Compass Point lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research note on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.10.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $54.07 on Friday. The company has a 50-day simple moving average of $62.41 and a 200-day simple moving average of $60.28. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $21.02 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Institutional Trading of Synchrony Financial

Several large investors have recently modified their holdings of SYF. Bogart Wealth LLC acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $26,000. TCTC Holdings LLC acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC grew its position in shares of Synchrony Financial by 92.7% in the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 292 shares during the last quarter. Y.D. More Investments Ltd grew its position in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 253 shares during the last quarter. Finally, Accredited Wealth Management LLC acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $38,000. 96.48% of the stock is currently owned by institutional investors and hedge funds.

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.