Royal Bank of Canada Boosts Synchrony Financial (NYSE:SYF) Price Target to $73.00

Synchrony Financial (NYSE:SYF) had its price objective upped by investment analysts at Royal Bank of Canada from $70.00 to $73.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 6.34% from the company’s previous close.

Several other research analysts have also commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted 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. Jefferies Financial Group lifted their target price on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Truist Financial began coverage on Synchrony Financial in a research report on Tuesday, January 7th. They set a “hold” rating and a $72.00 price target on the stock. Finally, Bank of America boosted their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.05.

Synchrony Financial Stock Performance

SYF traded up $1.99 during trading on Wednesday, hitting $68.65. The stock had a trading volume of 2,268,331 shares, compared to its average volume of 3,151,141. Synchrony Financial has a twelve month low of $37.91 and a twelve month high of $70.93. The firm has a market capitalization of $26.73 billion, a P/E ratio of 8.97, a PEG ratio of 0.83 and a beta of 1.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The company’s 50-day moving average price is $66.93 and its 200 day moving average price is $57.14.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. On average, equities research analysts forecast that Synchrony Financial will post 6.54 EPS for the current fiscal year.

Insider Transactions at Synchrony Financial

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

Hedge Funds Weigh In On Synchrony Financial

Large investors have recently bought and sold shares of the stock. Y.D. More Investments Ltd grew its position in Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 253 shares during the last quarter. 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. Raleigh Capital Management Inc. increased its stake in Synchrony Financial by 151.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 486 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 currently owned by institutional investors and hedge funds.

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.