Wells Fargo & Company Lowers Synchrony Financial (NYSE:SYF) Price Target to $70.00

Synchrony Financial (NYSE:SYF) had its price objective lowered by investment analysts at Wells Fargo & Company from $85.00 to $70.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 59.98% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group upped their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their price target on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. Finally, Truist Financial dropped their price target on shares of Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $68.26.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $43.76 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93. The business’s 50-day moving average price is $59.21 and its two-hundred day moving average price is $60.54. The company has a market capitalization of $17.01 billion, a P/E ratio of 5.12, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67.

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

Institutional Investors Weigh In On Synchrony Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Synchrony Financial in the 4th quarter valued at $347,903,000. Sachem Head Capital Management LP bought a new position in shares of Synchrony Financial during the fourth quarter valued at $142,838,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Synchrony Financial by 340.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider’s stock valued at $163,303,000 after purchasing an additional 1,942,573 shares in the last quarter. Azora Capital LP grew its holdings in shares of Synchrony Financial by 700.5% in the 4th quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider’s stock worth $137,010,000 after purchasing an additional 1,844,509 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Synchrony Financial by 169.0% during the 4th quarter. Nuveen Asset Management LLC now owns 2,356,862 shares of the financial services provider’s stock worth $153,196,000 after purchasing an additional 1,480,702 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

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.