Synchrony Financial (NYSE:SYF) Price Target Lowered to $70.00 at The Goldman Sachs Group

Synchrony Financial (NYSE:SYF - Free Report) had its price objective lowered by The Goldman Sachs Group from $82.00 to $70.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider's stock.

Several other research firms have also recently commented on SYF. Royal Bank of Canada increased their price target on Synchrony Financial from $70.00 to $73.00 and gave the company a "sector perform" rating in a report on Wednesday, January 29th. Barclays raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Truist Financial raised their target price on Synchrony Financial from $72.00 to $77.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Bank of America raised their target price on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, UBS Group raised their target price on Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $68.10.

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Synchrony Financial Price Performance

Shares of NYSE:SYF traded up $0.20 during midday trading on Tuesday, hitting $54.07. The company had a trading volume of 6,429,552 shares, compared to its average volume of 3,661,844. Synchrony Financial has a twelve month low of $39.67 and a twelve month 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 stock has a market cap of $21.02 billion, a price-to-earnings ratio of 6.33, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The business's 50-day simple moving average is $62.41 and its 200-day simple moving average is $60.28.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results 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 return on equity of 18.30% and a net margin of 15.36%. On average, research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. Synchrony Financial's dividend payout ratio (DPR) is presently 11.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in Synchrony Financial by 3.1% in the fourth quarter. California State Teachers Retirement System now owns 542,243 shares of the financial services provider's stock valued at $35,246,000 after purchasing an additional 16,140 shares during the period. 111 Capital purchased a new stake in Synchrony Financial during the 4th quarter worth about $1,271,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Synchrony Financial by 220.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 64,145 shares of the financial services provider's stock worth $4,169,000 after buying an additional 44,150 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Synchrony Financial during the 4th quarter worth about $371,000. Finally, Centaurus Financial Inc. lifted its holdings in Synchrony Financial by 3.4% during the 4th quarter. Centaurus Financial Inc. now owns 10,420 shares of the financial services provider's stock worth $677,000 after buying an additional 342 shares during the last quarter. 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.