Synchrony Financial (NYSE:SYF) Price Target Raised to $85.00 at Bank of America

Synchrony Financial (NYSE:SYF) had its price objective hoisted by Bank of America from $82.00 to $85.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts also recently commented on SYF. Royal Bank of Canada boosted their price objective on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 17th. Morgan Stanley upgraded shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $82.00 in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft increased their price objective on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Trading Up 0.9 %

NYSE SYF opened at $69.40 on Tuesday. The firm’s 50 day moving average price is $67.01 and its two-hundred day moving average price is $57.22. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a twelve month low of $37.91 and a twelve month high of $70.93. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 0.83 and a beta of 1.64.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. Equities analysts anticipate that Synchrony Financial will post 6.54 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a $0.25 dividend. The ex-dividend date is Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.44%. Synchrony Financial’s payout ratio is presently 13.05%.

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 127,587 shares of the company’s stock, 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 available through this hyperlink. 0.33% of the stock is owned by insiders.

Institutional Trading of Synchrony Financial

A number of hedge funds have recently bought and sold shares of the stock. Bogart Wealth LLC bought a new position in shares of Synchrony Financial during the 4th quarter worth about $26,000. Larson Financial Group LLC grew its position in Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares in the last quarter. Y.D. More Investments Ltd increased its stake in Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 253 shares during the period. Quarry LP raised its holdings in Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 675 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Synchrony Financial in the 3rd quarter worth approximately $50,000. 96.48% of the stock is owned by institutional investors.

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.