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

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

Several other brokerages also recently issued reports on SYF. Morgan Stanley reiterated an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a research note on Thursday, February 8th. TD Cowen raised their target price on shares of Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America raised their target price on shares of Synchrony Financial from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday. Piper Sandler increased their price target on shares of Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Finally, Wolfe Research raised shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and increased their price target for the company from $36.00 to $50.00 in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Hold” and an average price target of $42.72.

Synchrony Financial Stock Down 0.8 %

Shares of Synchrony Financial stock traded down $0.36 during trading hours on Thursday, reaching $44.66. 4,711,195 shares of the company’s stock were exchanged, compared to its average volume of 4,524,034. The company has a 50 day moving average of $41.56 and a two-hundred day moving average of $36.76. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $45.33. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. The stock has a market cap of $18.17 billion, a P/E 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 data on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the company earned $1.35 earnings per share. On average, sell-side analysts forecast that Synchrony Financial will post 5.57 EPS for the current fiscal year.

Synchrony Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 24th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now owns 14,183 shares in the company, valued at $552,995.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the sale, the insider now owns 14,183 shares in the company, valued at $552,995.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Insiders have sold 148,158 shares of company stock worth $6,106,106 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Synchrony Financial

Hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC acquired a new position in shares of Synchrony Financial during the third quarter worth $35,000. Massmutual Trust Co. FSB ADV raised its stake in Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after buying an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Synchrony Financial during the fourth quarter worth $55,000. Brown Brothers Harriman & Co. raised its stake in Synchrony Financial by 56.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after buying an additional 522 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Synchrony Financial during the fourth quarter worth $60,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

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.