The Goldman Sachs Group Issues Pessimistic Forecast for Synchrony Financial (NYSE:SYF) Stock Price

Synchrony Financial (NYSE:SYF) had its price objective decreased by The Goldman Sachs Group from $82.00 to $70.00 in a report issued on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

SYF has been the topic of several other reports. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Barclays upgraded Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $79.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Bank of America lifted their target price on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, Compass Point lowered Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.70.

Synchrony Financial Stock Down 1.2 %

NYSE:SYF opened at $53.85 on Tuesday. Synchrony Financial has a 12-month low of $39.67 and a 12-month high of $70.93. 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 firm has a market capitalization of $20.93 billion, a P/E ratio of 6.31, a P/E/G ratio of 0.71 and a beta of 1.67. The stock’s fifty day simple moving average is $62.61 and its 200-day simple moving average is $60.17.

Synchrony Financial (NYSE:SYF) 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 return on equity of 18.30% and a net margin of 15.36%. Equities research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio is currently 11.71%.

Institutional Trading of Synchrony Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. New Wave Wealth Advisors LLC acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at about $452,000. National Bank of Canada FI increased its position in Synchrony Financial by 119.0% during the third quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock worth $12,123,000 after buying an additional 132,047 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Synchrony Financial by 7.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock worth $11,787,000 after buying an additional 12,492 shares during the last quarter. Brophy Wealth Management LLC acquired a new position in Synchrony Financial during the third quarter worth approximately $544,000. Finally, Summit Trail Advisors LLC acquired a new position in Synchrony Financial during the fourth quarter worth approximately $423,000. 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.