It Seems Synchrony Financial (NYSE:SYF) Will Go Down. Just Reported More Shorted Shares

September 30, 2018 - By Palma Niemeyer

Synchrony Financial (NYSE:SYF) Logo

The stock of Synchrony Financial (NYSE:SYF) registered an increase of 2.37% in short interest. SYF’s total short interest was 11.28M shares in September as published by FINRA. Its up 2.37% from 11.02 million shares, reported previously. With 4.48 million shares average volume, it will take short sellers 3 days to cover their SYF’s short positions. The short interest to Synchrony Financial’s float is 1.62%.

The stock decreased 1.55% or $0.49 during the last trading session, reaching $31.08. About 4.93M shares traded. Synchrony Financial (NYSE:SYF) has risen 10.62% since September 30, 2017 and is uptrending. It has underperformed by 5.00% the S&P500.

Synchrony Financial operates as a consumer financial services firm in the United States. The company has market cap of $23.02 billion. The firm offers private label credit cards, dual cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans. It has a 10.6 P/E ratio. It also provides promotional financing to clients for health and personal care procedures, products, or services, such as dental, veterinary, cosmetic, vision and audiology; debt cancellation products; and deposit products, including certificates of deposit, individual retirement, money market, and savings accounts, as well as accepts deposits through third-party securities brokerage firms.

Synchrony Financial (NYSE:SYF) Ratings Coverage

Among 10 analysts covering Synchrony Finl (NYSE:SYF), 5 have Buy rating, 0 Sell and 5 Hold. Therefore 50% are positive. Synchrony Finl had 12 analyst reports since April 5, 2018 according to SRatingsIntel. The stock of Synchrony Financial (NYSE:SYF) has “Overweight” rating given on Friday, July 27 by JP Morgan. BMO Capital Markets maintained Synchrony Financial (NYSE:SYF) rating on Friday, April 20. BMO Capital Markets has “Buy” rating and $5100 target. BMO Capital Markets maintained it with “Outperform” rating and $37 target in Monday, July 30 report. BTIG Research maintained Synchrony Financial (NYSE:SYF) rating on Friday, April 20. BTIG Research has “Buy” rating and $4400 target. Barclays Capital downgraded Synchrony Financial (NYSE:SYF) rating on Monday, July 30. Barclays Capital has “Equal-Weight” rating and $32 target. The company was maintained on Monday, April 30 by Morgan Stanley. On Friday, August 3 the stock rating was upgraded by UBS to “Neutral”. BMO Capital Markets maintained the shares of SYF in report on Monday, April 23 with “Outperform” rating. The rating was downgraded by Bank of America to “Neutral” on Wednesday, September 26. The firm has “Buy” rating by RBC Capital Markets given on Tuesday, April 17.

More news for Synchrony Financial (NYSE:SYF) were recently published by: Seekingalpha.com, which released: “Synchrony Financial -1.8% after BofAML cuts to neutral” on September 26, 2018. Fool.com‘s article titled: “3 Top Bank Stocks to Buy Right Now” and published on September 29, 2018 is yet another important article.

Synchrony Financial (NYSE:SYF) Ratings Chart

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