Synchrony Financial (NYSE:SYF) Price Target Raised to $65.00 at Evercore ISI

Synchrony Financial (NYSE:SYF) had its price objective lifted by equities researchers at Evercore ISI from $58.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 17.95% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of Synchrony Financial in a research note on Monday, October 14th. Robert W. Baird set a $62.00 price objective on shares of Synchrony Financial in a research note on Thursday, October 17th. Jefferies Financial Group increased their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group raised their price target on shares of Synchrony Financial from $49.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Compass Point increased their price objective on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.60.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $55.11 on Wednesday. The firm’s 50 day moving average is $51.06 and its 200 day moving average is $47.49. The stock has a market capitalization of $21.46 billion, a P/E ratio of 7.19, a PEG ratio of 1.12 and a beta of 1.61. Synchrony Financial has a 12 month low of $27.68 and a 12 month high of $57.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last posted its earnings results 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. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 earnings per share. On average, sell-side analysts anticipate that Synchrony Financial will post 6.28 earnings per share for the current year.

Insider Activity

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Synchrony Financial

A number of hedge funds and other institutional investors have recently modified their holdings of SYF. Wealth Enhancement Advisory Services LLC increased its stake in Synchrony Financial by 11.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,036 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 1,530 shares during the period. Norden Group LLC purchased a new position in shares of Synchrony Financial in the first quarter worth $723,000. First Trust Direct Indexing L.P. raised its holdings in Synchrony Financial by 12.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 12,727 shares of the financial services provider’s stock valued at $549,000 after buying an additional 1,389 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Synchrony Financial by 41.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 50,844 shares of the financial services provider’s stock valued at $2,192,000 after buying an additional 14,852 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in Synchrony Financial in the 1st quarter worth $211,000. 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.