Synchrony Financial (NYSE:SYF) Cut to “Hold” at StockNews.com

Synchrony Financial (NYSE:SYF) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other brokerages have also recently issued reports on SYF. JPMorgan Chase & Co. raised their target price on shares of Synchrony Financial from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. JMP Securities lifted their price target on shares of Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Friday, January 12th. BMO Capital Markets cut shares of Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 price target on the stock. in a research note on Wednesday, January 10th. Barclays lifted their price target on shares of Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler raised their price objective on shares of Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Synchrony Financial presently has an average rating of “Hold” and a consensus price target of $41.44.

Synchrony Financial Stock Performance

SYF stock traded down $0.24 on Wednesday, hitting $39.68. The company had a trading volume of 4,230,140 shares, compared to its average volume of 4,410,885. Synchrony Financial has a 12-month low of $26.59 and a 12-month high of $43.83. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $41.12 and its 200 day simple moving average is $36.24. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 1.01 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the company posted $1.26 earnings per share. As a group, equities research analysts expect that Synchrony Financial will post 5.54 earnings per share for the current fiscal year.

Insider Transactions at Synchrony Financial

In other news, insider Curtis Howse sold 6,179 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the sale, the insider now directly owns 152,604 shares in the company, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the transaction, the insider now directly owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Curtis Howse sold 6,179 shares of Synchrony Financial stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The disclosure for this sale can be found here. Insiders have sold a total of 148,158 shares of company stock worth $6,106,106 in the last three months. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

A number of large investors have recently made changes to their positions in the company. Live Oak Investment Partners purchased a new stake in Synchrony Financial in the 4th quarter valued at about $27,000. Exchange Traded Concepts LLC purchased a new stake in Synchrony Financial in the 3rd quarter valued at about $35,000. Covestor Ltd boosted its position in Synchrony Financial by 138.8% in the 1st quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after buying an additional 644 shares during the period. Zions Bancorporation N.A. boosted its position in Synchrony Financial by 230.5% in the 1st quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after buying an additional 855 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Synchrony Financial by 76.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock valued at $46,000 after buying an additional 573 shares during the period. 96.48% of the stock is owned by hedge funds and other 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.