JPMorgan Chase & Co. Raises Synchrony Financial (NYSE:SYF) Price Target to $42.00

Synchrony Financial (NYSE:SYFGet Free Report) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $39.00 to $42.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.46% from the company’s previous close.

Several other brokerages have also recently issued reports on SYF. Bank of America lifted their target price on shares of Synchrony Financial from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. JMP Securities lifted their target price on shares of Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a report on Friday, January 12th. BMO Capital Markets cut shares of Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 target price for the company. in a report on Wednesday, January 10th. The Goldman Sachs Group lifted their target price on shares of Synchrony Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Piper Sandler boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial has an average rating of “Hold” and a consensus target price of $40.31.

Check Out Our Latest Stock Analysis on SYF

Synchrony Financial Stock Down 1.8 %

NYSE:SYF opened at $40.99 on Wednesday. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $43.83. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s 50-day moving average price is $40.56 and its 200-day moving average price is $35.47. The company has a market capitalization of $16.68 billion, a PE ratio of 7.91, a P/E/G ratio of 1.01 and a beta of 1.61.

Synchrony Financial (NYSE:SYFGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $4.45 billion. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. During the same quarter in the previous year, the firm posted $1.26 earnings per share. On average, equities analysts predict that Synchrony Financial will post 5.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the transaction, 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 SEC, which is available through this hyperlink. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the transaction, the insider now owns 14,183 shares in the company, valued at $552,995.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the transaction, the insider now owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,158 shares of company stock worth $6,106,106. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Synchrony Financial

Several institutional investors have recently bought and sold shares of SYF. Live Oak Investment Partners bought a new position in Synchrony Financial during the fourth quarter valued at $27,000. Exchange Traded Concepts LLC bought a new position in Synchrony Financial during the third quarter valued at $35,000. Covestor Ltd raised its stake in shares of Synchrony Financial by 138.8% in the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 644 shares during the period. Zions Bancorporation N.A. raised its stake in shares of Synchrony Financial by 230.5% in the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 855 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Synchrony Financial by 76.2% in the first quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 573 shares during the period. Institutional investors own 96.48% of the company’s stock.

About Synchrony Financial

(Get Free Report)

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.

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