Wells Fargo & Company Has Lowered Expectations for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF) had its price objective decreased by Wells Fargo & Company from $85.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 59.98% from the stock’s current price.

Several other research firms also recently issued reports on SYF. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. UBS Group raised their price target on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, January 13th. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods raised their target price on shares of Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group dropped their price target on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Synchrony Financial currently has an average rating of “Moderate Buy” and an average target price of $68.26.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $43.76 on Thursday. The business has a fifty day moving average of $59.21 and a 200-day moving average of $60.54. The firm has a market cap of $17.01 billion, a PE ratio of 5.12, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Synchrony Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in SYF. Bogart Wealth LLC acquired a new position in Synchrony Financial in the 4th quarter worth $26,000. TCTC Holdings LLC acquired a new position in shares of Synchrony Financial during the fourth quarter worth about $27,000. Y.D. More Investments Ltd grew its holdings in shares of Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after buying an additional 253 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in Synchrony Financial in the 4th quarter valued at approximately $38,000. Finally, Raleigh Capital Management Inc. boosted its position in Synchrony Financial by 151.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 486 shares during the last quarter. 96.48% of the stock is currently 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.