Synchrony Financial (NYSE:SYF) Coverage Initiated at Truist Financial

Equities research analysts at Truist Financial initiated coverage on shares of Synchrony Financial (NYSE:SYF) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set a “hold” rating and a $72.00 price target on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 6.52% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised their price target on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group raised their price target on Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a research note on Tuesday, November 19th. TD Cowen raised their price target on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. StockNews.com upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their target price on Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and a consensus target price of $64.98.

Synchrony Financial Stock Up 1.2 %

NYSE SYF opened at $67.59 on Tuesday. The company has a market capitalization of $26.32 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.82 and a beta of 1.64. The stock has a 50 day moving average price of $64.93 and a 200-day moving average price of $54.80. Synchrony Financial has a one year low of $35.29 and a one year high of $69.39. 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 (NYSE:SYF) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm posted $1.48 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts predict that Synchrony Financial will post 6.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised 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 valued at $30,000 after acquiring an additional 292 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Synchrony Financial in the second quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Synchrony Financial in the second quarter valued at approximately $39,000. Quarry LP increased its position in shares of Synchrony Financial by 301.3% in the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after buying an additional 675 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Synchrony Financial in the third quarter valued at approximately $50,000. 96.48% of the stock is currently 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.