Synchrony Financial (NYSE:SYF) Price Target Lowered to $70.00 at The Goldman Sachs Group

Synchrony Financial (NYSE:SYF) had its price target cut by The Goldman Sachs Group from $82.00 to $70.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

SYF has been the subject of several other research reports. Royal Bank of Canada upped their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Truist Financial upped their price target on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $59.00 to $72.00 in a research report on Monday, December 9th. Finally, UBS Group increased their price objective on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Six investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.70.

Synchrony Financial Trading Down 0.8 %

SYF opened at $53.04 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 6.21, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The firm has a 50 day simple moving average of $63.07 and a 200 day simple moving average of $60.26. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping 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, sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Synchrony Financial’s payout ratio is currently 11.71%.

Institutional Investors Weigh In On Synchrony Financial

Hedge funds have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC bought a new position in Synchrony Financial in the 4th quarter valued at approximately $452,000. National Bank of Canada FI increased its stake in shares of Synchrony Financial by 119.0% in the 3rd quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock valued at $12,123,000 after acquiring an additional 132,047 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Synchrony Financial by 7.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock valued at $11,787,000 after acquiring an additional 12,492 shares in the last quarter. Brophy Wealth Management LLC bought a new stake in shares of Synchrony Financial in the 3rd quarter valued at $544,000. Finally, Summit Trail Advisors LLC bought a new stake in shares of Synchrony Financial in the 4th quarter valued at $423,000. 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.