Synchrony Financial (NYSE:SYF) Upgraded by Wells Fargo & Company to “Overweight” Rating

Synchrony Financial (NYSE:SYF) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm presently has a $85.00 price target on the financial services provider’s stock, up from their prior price target of $60.00. Wells Fargo & Company‘s price objective indicates a potential upside of 26.70% from the company’s previous close.

Several other analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Compass Point raised their target price on Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays upped their price target on Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and set a $60.00 price objective on shares of Synchrony Financial in a research report on Monday, October 14th. Finally, Jefferies Financial Group boosted their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.68.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $67.09 on Tuesday. The business has a 50 day moving average of $57.60 and a 200 day moving average of $50.55. Synchrony Financial has a 52 week low of $33.51 and a 52 week high of $68.69. The company has a market cap of $26.12 billion, a PE ratio of 8.76, a P/E/G ratio of 0.93 and a beta of 1.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm earned $1.48 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that Synchrony Financial will post 6.52 earnings per share for the current year.

Insider Activity

In other news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. The trade was 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 Investors Weigh In On Synchrony Financial

Several hedge funds and other institutional investors have recently made changes to their positions in SYF. Cetera Investment Advisers purchased a new stake in Synchrony Financial in the first quarter worth about $2,192,000. Cetera Advisors LLC raised its stake in Synchrony Financial by 13.3% during the 1st quarter. Cetera Advisors LLC now owns 10,805 shares of the financial services provider’s stock worth $466,000 after acquiring an additional 1,268 shares during the period. GAMMA Investing LLC lifted its holdings in Synchrony Financial by 41.8% during the second quarter. GAMMA Investing LLC now owns 5,546 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 1,635 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Synchrony Financial by 24.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,629 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 317 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Synchrony Financial by 46.0% in the second quarter. Park Avenue Securities LLC now owns 17,750 shares of the financial services provider’s stock worth $838,000 after purchasing an additional 5,589 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

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.