Synchrony Financial (NYSE:SYF)‘s stock had its “buy” rating reaffirmed by equities research analysts at BMO Capital Markets in a note issued to investors on Friday. They presently have a $40.00 target price on the financial services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 30.98% from the stock’s current price.

Other analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Sunday, April 30th. Deutsche Bank AG cut their target price on Synchrony Financial from $47.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, May 1st. BTIG Research cut their target price on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Synchrony Financial in a research note on Friday, June 9th. Finally, BidaskClub downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Synchrony Financial presently has a consensus rating of “Buy” and a consensus target price of $37.55.

Synchrony Financial (NYSE:SYF) opened at 30.54 on Friday. The firm has a market cap of $24.29 billion, a P/E ratio of 11.47 and a beta of 1.01. The company has a 50-day moving average of $30.03 and a 200 day moving average of $31.35. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, July 21st. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same quarter in the previous year, the business earned $0.58 EPS. Equities research analysts expect that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.

Synchrony Financial declared that its Board of Directors has initiated a share buyback program on Thursday, May 18th that authorizes the company to repurchase $1.64 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: “Synchrony Financial (SYF) Rating Reiterated by BMO Capital Markets” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another site, it was illegally stolen and reposted in violation of international copyright legislation. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/08/27/synchrony-financial-syf-rating-reiterated-by-bmo-capital-markets.html.

In related news, Director Paget Leonard Alves bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average cost of $30.85 per share, for a total transaction of $61,700.00. Following the acquisition, the director now directly owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Synchrony Financial by 1.9% in the second quarter. Vanguard Group Inc. now owns 52,233,692 shares of the financial services provider’s stock valued at $1,557,609,000 after buying an additional 956,331 shares during the period. BlackRock Inc. boosted its stake in shares of Synchrony Financial by 2,275.1% in the first quarter. BlackRock Inc. now owns 48,272,035 shares of the financial services provider’s stock valued at $1,655,730,000 after buying an additional 46,239,640 shares during the period. FMR LLC boosted its stake in shares of Synchrony Financial by 27.1% in the second quarter. FMR LLC now owns 36,964,054 shares of the financial services provider’s stock valued at $1,102,267,000 after buying an additional 7,874,689 shares during the period. Berkshire Hathaway Inc. acquired a new stake in shares of Synchrony Financial during the second quarter valued at approximately $520,747,000. Finally, First Eagle Investment Management LLC boosted its stake in shares of Synchrony Financial by 1.2% in the second quarter. First Eagle Investment Management LLC now owns 17,303,205 shares of the financial services provider’s stock valued at $515,982,000 after buying an additional 197,074 shares during the period. 89.63% of the stock is owned by institutional investors and hedge funds.

About Synchrony Financial

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

Receive News & Stock Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related stocks with our FREE daily email newsletter.