Bank of America lowered shares of Synchrony Financial (NYSE:SYF) from a buy rating to a neutral rating in a research report report published on Wednesday, MarketBeat reports. Bank of America currently has $34.00 price objective on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on SYF. ValuEngine cut shares of Synchrony Financial from a hold rating to a sell rating in a research report on Thursday, July 26th. JPMorgan Chase & Co. dropped their target price on shares of Synchrony Financial from $41.00 to $39.00 and set an overweight rating for the company in a research report on Friday, July 27th. Edward Jones cut shares of Synchrony Financial from a buy rating to a hold rating in a research report on Friday, July 27th. Oppenheimer reiterated a hold rating on shares of Synchrony Financial in a research report on Friday, July 27th. Finally, Stephens reiterated a hold rating and set a $32.00 target price on shares of Synchrony Financial in a research report on Friday, July 27th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $38.50.

Shares of Synchrony Financial stock traded down $0.22 during mid-day trading on Wednesday, reaching $31.69. 42,609 shares of the stock were exchanged, compared to its average volume of 4,206,223. The stock has a market capitalization of $24.43 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.94 and a beta of 1.05. Synchrony Financial has a fifty-two week low of $28.64 and a fifty-two week high of $40.59.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. During the same quarter last year, the company posted $0.61 EPS. equities analysts predict that Synchrony Financial will post 3.4 EPS for the current year.

In related news, Director Roy A. Guthrie acquired 10,000 shares of the stock in a transaction on Monday, July 30th. The stock was purchased at an average price of $29.53 per share, for a total transaction of $295,300.00. Following the transaction, the director now owns 47,997 shares of the company’s stock, valued at approximately $1,417,351.41. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.07% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kiley Juergens Wealth Management LLC increased its position in Synchrony Financial by 17.0% in the 2nd quarter. Kiley Juergens Wealth Management LLC now owns 10,722 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 1,555 shares in the last quarter. Bank Hapoalim BM grew its position in shares of Synchrony Financial by 4.9% during the 2nd quarter. Bank Hapoalim BM now owns 34,618 shares of the financial services provider’s stock worth $1,156,000 after buying an additional 1,605 shares during the period. Alps Advisors Inc. grew its position in shares of Synchrony Financial by 4.2% during the 2nd quarter. Alps Advisors Inc. now owns 42,942 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 1,741 shares during the period. United Asset Strategies Inc. grew its position in shares of Synchrony Financial by 17.6% during the 2nd quarter. United Asset Strategies Inc. now owns 12,912 shares of the financial services provider’s stock worth $431,000 after buying an additional 1,937 shares during the period. Finally, Dupont Capital Management Corp grew its position in shares of Synchrony Financial by 39.0% during the 2nd quarter. Dupont Capital Management Corp now owns 7,140 shares of the financial services provider’s stock worth $238,000 after buying an additional 2,005 shares during the period. Hedge funds and other institutional investors own 85.09% of the company’s stock.

Synchrony Financial Company Profile

Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.

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Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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