Truist Financial Has Lowered Expectations for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF - Free Report) had its target price lowered by Truist Financial from $77.00 to $65.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a hold rating on the financial services provider's stock.

Other analysts have also issued reports about the stock. Barclays raised shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. 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 research note on Wednesday, January 29th. UBS Group boosted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Morgan Stanley upgraded Synchrony Financial from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $40.00 to $82.00 in a report on Thursday, December 19th. Finally, The Goldman Sachs Group lowered their target price on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.10.

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Synchrony Financial Stock Up 3.2 %

Shares of SYF traded up $1.73 during trading on Friday, reaching $55.75. The company's stock had a trading volume of 896,870 shares, compared to its average volume of 4,234,652. The company has a market cap of $21.67 billion, a price-to-earnings ratio of 6.53, a P/E/G ratio of 0.71 and a beta of 1.67. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The company has a fifty day moving average of $62.41 and a two-hundred day moving average of $60.36. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings data 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 return on equity of 18.30% and a net margin of 15.36%. On average, sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid 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 1.79%. Synchrony Financial's dividend payout ratio is currently 11.71%.

Institutional Trading of Synchrony Financial

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Synchrony Financial during the fourth quarter valued at $347,903,000. Sachem Head Capital Management LP acquired a new stake in shares of Synchrony Financial during the 4th quarter worth about $142,838,000. Price T Rowe Associates Inc. MD lifted its holdings in Synchrony Financial by 340.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,512,340 shares of the financial services provider's stock valued at $163,303,000 after purchasing an additional 1,942,573 shares during the last quarter. Azora Capital LP boosted its position in Synchrony Financial by 700.5% in the fourth quarter. Azora Capital LP now owns 2,107,839 shares of the financial services provider's stock valued at $137,010,000 after buying an additional 1,844,509 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Synchrony Financial by 169.0% during the fourth quarter. Nuveen Asset Management LLC now owns 2,356,862 shares of the financial services provider's stock worth $153,196,000 after buying an additional 1,480,702 shares during the last quarter. Institutional investors and hedge funds 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.