Synchrony Financial (NYSE:SYF) Given New $78.00 Price Target at Truist Financial

Synchrony Financial (NYSE:SYF) had its price objective decreased by Truist Financial from $82.00 to $78.00 in a research report sent to investors on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the stock. JMP Securities raised their target price on shares of Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research note on Thursday, September 25th. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Evercore ISI lifted their price target on shares of Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada lifted their price target on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Finally, Redburn Atlantic raised shares of Synchrony Financial to a “hold” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.38.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $71.58 on Friday. The company’s fifty day simple moving average is $73.43 and its 200-day simple moving average is $64.68. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91. The company has a market cap of $26.63 billion, a PE ratio of 7.81, a P/E/G ratio of 0.70 and a beta of 1.50.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial declared that its board has approved a stock buyback plan on Wednesday, October 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Synchrony Financial’s payout ratio is 14.56%.

Insider Activity

In other news, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the transaction, the insider directly owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. The trade was a 11.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Darrell Owens sold 600 shares of Synchrony Financial stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the sale, the insider owned 21,372 shares in the company, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Institutional Trading of Synchrony Financial

Hedge funds have recently bought and sold shares of the company. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in Synchrony Financial in the 2nd quarter valued at about $26,000. True Wealth Design LLC lifted its stake in shares of Synchrony Financial by 5,787.5% in the 2nd quarter. True Wealth Design LLC now owns 471 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 463 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Synchrony Financial in the 2nd quarter worth approximately $39,000. Zions Bancorporation National Association UT acquired a new stake in shares of Synchrony Financial in the 1st quarter worth approximately $30,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 455 shares during the period. 96.48% of the stock is currently owned by institutional investors.

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.