Synchrony Financial (NYSE:SYF) Stock Rating Upgraded by StockNews.com

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

Several other brokerages also recently weighed in on SYF. Bank of America upped their target price on Synchrony Financial from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler upped their target price on Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. TD Cowen upped their target price on Synchrony Financial from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI upped their target price on Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $30.00 price target on shares of Synchrony Financial in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.72.

Synchrony Financial Trading Down 0.8 %

SYF stock traded down $0.36 during trading on Thursday, reaching $44.66. 4,711,195 shares of the stock traded hands, compared to its average volume of 4,524,034. The business’s 50 day moving average price is $41.56 and its 200-day moving average price is $36.76. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $45.33. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $18.17 billion, a PE ratio of 8.62, a P/E/G ratio of 1.06 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the firm posted $1.35 EPS. As a group, sell-side analysts forecast that Synchrony Financial will post 5.57 earnings per share for the current year.

Synchrony Financial declared that its board has approved a stock buyback plan on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David P. Melito sold 7,283 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the transaction, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis Howse sold 6,179 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of 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. Over the last ninety days, insiders sold 148,158 shares of company stock valued at $6,106,106. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Synchrony Financial by 45.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,458 shares of the financial services provider’s stock valued at $4,142,000 after acquiring an additional 33,867 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Synchrony Financial by 58.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 280,952 shares of the financial services provider’s stock valued at $10,646,000 after purchasing an additional 103,222 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Synchrony Financial by 4.1% in the third quarter. Ameriprise Financial Inc. now owns 3,707,427 shares of the financial services provider’s stock valued at $113,336,000 after purchasing an additional 145,466 shares in the last quarter. Blueshift Asset Management LLC lifted its holdings in shares of Synchrony Financial by 51.1% in the third quarter. Blueshift Asset Management LLC now owns 46,331 shares of the financial services provider’s stock valued at $1,416,000 after purchasing an additional 15,666 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Synchrony Financial by 2.5% in the third quarter. FMR LLC now owns 2,054,697 shares of the financial services provider’s stock valued at $62,812,000 after purchasing an additional 50,495 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

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.