Truist Financial Corp Has $2.30 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

Truist Financial Corp raised its stake in shares of Synchrony Financial (NYSE:SYF) by 126.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,136 shares of the financial services provider’s stock after purchasing an additional 33,631 shares during the quarter. Truist Financial Corp’s holdings in Synchrony Financial were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Synchrony Financial by 44.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 390 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Synchrony Financial in the 4th quarter worth approximately $55,000. Systematic Alpha Investments LLC bought a new position in Synchrony Financial in the 3rd quarter worth approximately $100,000. Private Trust Co. NA raised its position in shares of Synchrony Financial by 13.4% during the 4th quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 320 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Synchrony Financial by 87.3% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,161 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 1,940 shares during the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Synchrony Financial Trading Up 0.8 %

Shares of SYF stock opened at $45.61 on Thursday. Synchrony Financial has a fifty-two week low of $26.67 and a fifty-two week high of $46.72. The stock’s fifty day moving average price is $42.36 and its two-hundred day moving average price is $37.74. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.23 and a current ratio of 1.24. The company has a market cap of $18.31 billion, a PE ratio of 6.54, a P/E/G ratio of 1.12 and a beta of 1.58.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. Equities analysts predict that Synchrony Financial will post 5.62 EPS for the current fiscal year.

Synchrony Financial declared that its board has initiated a stock repurchase program on Wednesday, April 24th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.00 annualized dividend and a yield of 2.19%. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the transaction, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the transaction, the insider now owns 152,604 shares in the company, valued at approximately $6,534,503.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the transaction, the insider now owns 660,353 shares of the company’s stock, valued at approximately $27,246,164.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,437 shares of company stock worth $7,242,432. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

SYF has been the subject of several recent research reports. Morgan Stanley reiterated an “underweight” rating and set a $30.00 target price on shares of Synchrony Financial in a research report on Thursday, February 8th. Stephens upped their price objective on shares of Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. TD Cowen upped their price objective on shares of Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Finally, Wells Fargo & Company upped their target price on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.74.

Synchrony Financial Company Profile

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.