Barclays Reiterates “$55.00” Price Target for Synchrony Financial (SYF)

Barclays set a $55.00 target price on Synchrony Financial (NYSE:SYF) in a research report released on Thursday morning. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also weighed in on the company. Wells Fargo & Co raised Synchrony Financial from a market perform rating to an outperform rating and set a $35.00 target price on the stock in a research report on Tuesday. Jefferies Group reaffirmed a buy rating and issued a $44.00 target price on shares of Synchrony Financial in a research report on Tuesday, December 26th. Bank of America raised Synchrony Financial from a neutral rating to a buy rating in a research report on Monday, December 18th. BTIG Research reaffirmed a buy rating and issued a $44.00 target price on shares of Synchrony Financial in a research report on Sunday, December 17th. Finally, Wedbush set a $41.00 target price on Synchrony Financial and gave the stock a hold rating in a research report on Monday, December 11th. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Synchrony Financial presently has a consensus rating of Buy and a consensus target price of $38.40.

Shares of Synchrony Financial (SYF) traded down $0.39 during trading on Thursday, reaching $39.37. The company had a trading volume of 8,532,100 shares, compared to its average volume of 6,410,000. The stock has a market cap of $30,810.00, a P/E ratio of 14.97, a P/E/G ratio of 1.62 and a beta of 1.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.47 and a current ratio of 1.47. Synchrony Financial has a 1 year low of $26.01 and a 1 year high of $40.17.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, October 20th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. Synchrony Financial had a return on equity of 14.84% and a net margin of 13.17%. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the firm posted $0.73 EPS. research analysts forecast that Synchrony Financial will post 2.57 earnings per share for the current year.

In related news, Director Olympia J. Snowe acquired 3,000 shares of the stock in a transaction dated Friday, November 17th. The shares were acquired at an average price of $33.40 per share, with a total value of $100,200.00. Following the acquisition, the director now owns 10,608 shares in the company, valued at approximately $354,307.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David P. Melito sold 2,000 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $40.00, for a total value of $80,000.00. Following the transaction, the insider now directly owns 39,259 shares in the company, valued at approximately $1,570,360. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,961 shares of company stock worth $324,508. 0.03% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Federated Investors Inc. PA increased its holdings in shares of Synchrony Financial by 0.6% during the 2nd quarter. Federated Investors Inc. PA now owns 26,333 shares of the financial services provider’s stock valued at $786,000 after acquiring an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Synchrony Financial by 9.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 486 shares during the last quarter. Bancorpsouth Inc. increased its holdings in shares of Synchrony Financial by 9.4% during the 2nd quarter. Bancorpsouth Inc. now owns 8,589 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 741 shares during the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of Synchrony Financial by 6.7% during the 2nd quarter. Bahl & Gaynor Inc. now owns 12,872 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 808 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of Synchrony Financial by 32.1% during the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 867 shares during the last quarter. 85.46% of the stock is currently owned by institutional investors and hedge funds.

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About Synchrony Financial

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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