Wells Fargo & Company Forecasts Strong Price Appreciation for Synchrony Financial (NYSE:SYF) Stock

Synchrony Financial (NYSE:SYF) had its target price upped by equities research analysts at Wells Fargo & Company from $65.00 to $75.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 7.99% from the stock’s previous close.

Several other research firms have also recently issued reports on SYF. Wall Street Zen upgraded Synchrony Financial from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Cfra Research raised Synchrony Financial to a “hold” rating in a research note on Tuesday, April 22nd. Truist Financial raised their price objective on Synchrony Financial from $63.00 to $68.00 and gave the company a “hold” rating in a report on Friday, June 13th. Finally, Evercore ISI dropped their target price on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.78.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $69.45 on Tuesday. The stock has a market capitalization of $26.44 billion, a P/E ratio of 9.53, a P/E/G ratio of 0.71 and a beta of 1.46. The company’s fifty day moving average price is $59.15 and its 200 day moving average price is $59.51. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.26. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. As a group, equities research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Curtis Howse sold 11,380 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the sale, the insider owned 108,062 shares of the company’s stock, valued at $7,024,030. This represents a 9.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan S. Mothner sold 40,639 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the transaction, the insider owned 146,628 shares of the company’s stock, valued at $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Synchrony Financial

Several institutional investors and hedge funds have recently bought and sold shares of SYF. TCTC Holdings LLC acquired a new stake in shares of Synchrony Financial during the fourth quarter valued at about $27,000. Zions Bancorporation National Association UT purchased a new position in shares of Synchrony Financial during the 1st quarter worth approximately $30,000. Geneos Wealth Management Inc. increased its holdings in Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 455 shares during the last quarter. MAI Capital Management increased its holdings in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 167 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Synchrony Financial in the first quarter valued at approximately $34,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

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.