Wells Fargo & Company Issues Pessimistic Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF - Free Report) had its target price reduced by Wells Fargo & Company from $85.00 to $70.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

A number of other equities analysts also recently weighed in on the stock. Truist Financial dropped their price target on shares of Synchrony Financial from $77.00 to $65.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. Keefe, Bruyette & Woods raised their price target on Synchrony Financial from $62.00 to $82.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. StockNews.com lowered Synchrony Financial from a "buy" rating to a "hold" rating in a report on Monday, March 24th. UBS Group increased their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Finally, Barclays upgraded shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $59.00 to $79.00 in a research note on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Synchrony Financial has an average rating of "Moderate Buy" and a consensus target price of $65.11.

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Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded down $0.55 on Thursday, hitting $44.26. The company had a trading volume of 1,891,141 shares, compared to its average volume of 3,885,581. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day simple moving average of $58.71 and a 200-day simple moving average of $60.66. The company has a market cap of $17.21 billion, a PE ratio of 5.15, a PEG ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. Synchrony Financial's dividend payout ratio is 11.71%.

Hedge Funds Weigh In On Synchrony Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BTC Capital Management Inc. boosted its holdings in Synchrony Financial by 25.9% in the 1st quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock valued at $3,485,000 after purchasing an additional 13,526 shares during the period. Rothschild Investment LLC lifted its stake in shares of Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock valued at $46,000 after buying an additional 308 shares during the period. Global Financial Private Client LLC grew its position in Synchrony Financial by 1,107.4% during the first quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock worth $52,000 after buying an additional 897 shares in the last quarter. GAMMA Investing LLC increased its stake in Synchrony Financial by 5,889.1% during the first quarter. GAMMA Investing LLC now owns 496,260 shares of the financial services provider's stock valued at $26,272,000 after acquiring an additional 487,974 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Synchrony Financial by 18.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,411 shares of the financial services provider's stock valued at $128,000 after acquiring an additional 370 shares in the last quarter. 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.