Synchrony Financial (NYSE:SYF) Reaches New 12-Month High at $44.45

Synchrony Financial (NYSE:SYF)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $44.45 and last traded at $43.97, with a volume of 1534969 shares. The stock had previously closed at $42.86.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYF. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Synchrony Financial in a report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 target price on the stock. Piper Sandler raised their target price on Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. BMO Capital Markets downgraded shares of Synchrony Financial from an “outperform” rating to a “market perform” rating and set a $40.00 price target on the stock. in a research report on Wednesday, January 10th. Morgan Stanley reaffirmed an “underweight” rating and issued a $30.00 target price on shares of Synchrony Financial in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Synchrony Financial from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.44.

Synchrony Financial Trading Up 3.7 %

The company has a market capitalization of $18.08 billion, a P/E ratio of 8.56, a PEG ratio of 1.05 and a beta of 1.61. 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 business has a 50 day moving average price of $41.35 and a 200 day moving average price of $36.64.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same quarter in the previous year, the business posted $1.26 EPS. Analysts anticipate that Synchrony Financial will post 5.54 EPS for the current year.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total transaction of $264,584.78. Following the sale, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the sale, the insider now owns 660,353 shares in the company, valued at approximately $27,246,164.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the business’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 value of $264,584.78. Following the completion of the sale, the insider now owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The disclosure for this sale can be found here. Insiders sold a total of 148,158 shares of company stock worth $6,106,106 over the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Synchrony Financial

Several large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake in Synchrony Financial by 995.4% during the first quarter. Assenagon Asset Management S.A. now owns 5,599,443 shares of the financial services provider’s stock worth $241,448,000 after purchasing an additional 5,088,262 shares during the last quarter. Invesco Ltd. grew its position in Synchrony Financial by 16.0% during the 3rd quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock worth $167,187,000 after acquiring an additional 755,856 shares during the last quarter. Northern Trust Corp increased its holdings in Synchrony Financial by 3.7% in the 3rd quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider’s stock worth $152,040,000 after purchasing an additional 178,344 shares in the last quarter. Norges Bank bought a new stake in shares of Synchrony Financial during the fourth quarter worth about $182,739,000. Finally, Boston Partners boosted its position in Synchrony Financial by 23.6% during the 4th quarter. Boston Partners now owns 3,826,080 shares of the financial services provider’s stock worth $146,112,000 after buying an additional 730,318 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

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.