Synchrony Financial (NYSE:SYF) Price Target Raised to $77.00 at Truist Financial

Synchrony Financial (NYSE:SYF) had its price target lifted by Truist Financial from $72.00 to $77.00 in a research note released on Thursday,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on SYF. Jefferies Financial Group lifted their price objective on Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Robert W. Baird set a $62.00 price target on Synchrony Financial in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upped their price objective on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. JMP Securities reiterated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a research report on Monday, October 14th. Finally, Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Synchrony Financial Stock Up 0.9 %

SYF stock opened at $69.40 on Thursday. The stock has a 50-day simple moving average of $67.01 and a two-hundred day simple moving average of $57.22. Synchrony Financial has a twelve month low of $37.91 and a twelve month high of $70.93. The firm has a market capitalization of $27.02 billion, a PE ratio of 8.13, a PEG ratio of 0.80 and a beta of 1.64. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating the consensus estimate 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 analysts predict that Synchrony Financial will post 6.73 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.44%. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Synchrony Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC raised its holdings in Synchrony Financial by 2.3% in the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 160 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in Synchrony Financial by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock worth $604,000 after buying an additional 176 shares in the last quarter. Graypoint LLC lifted its holdings in Synchrony Financial by 4.0% in the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock worth $233,000 after buying an additional 181 shares during the period. Wedmont Private Capital boosted its position in Synchrony Financial by 2.6% during the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 192 shares in the last quarter. Finally, Empirical Finance LLC boosted its position in shares of Synchrony Financial by 1.3% during the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.

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.