Truist Financial Corp Has $1.26 Million Holdings in Synchrony Financial (NYSE:SYF)

Truist Financial Corp grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,353 shares of the financial services provider’s stock after purchasing an additional 1,817 shares during the period. Truist Financial Corp’s holdings in Synchrony Financial were worth $1,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Southpoint Capital Advisors LP grew its position in shares of Synchrony Financial by 37.9% during the 3rd quarter. Southpoint Capital Advisors LP now owns 4,600,000 shares of the financial services provider’s stock worth $229,448,000 after purchasing an additional 1,265,000 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Synchrony Financial by 3.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,447,275 shares of the financial services provider’s stock worth $221,830,000 after purchasing an additional 157,948 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Synchrony Financial by 18.5% during the 4th quarter. Nordea Investment Management AB now owns 3,083,329 shares of the financial services provider’s stock worth $200,756,000 after purchasing an additional 481,750 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Synchrony Financial by 1.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,199,554 shares of the financial services provider’s stock worth $109,714,000 after acquiring an additional 37,484 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Synchrony Financial by 8.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,061,979 shares of the financial services provider’s stock worth $102,852,000 after acquiring an additional 158,960 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $60.64 on Friday. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The firm has a fifty day simple moving average of $65.96 and a 200 day simple moving average of $59.57. The company has a market capitalization of $23.57 billion, a PE ratio of 7.10, a P/E/G ratio of 0.71 and a beta of 1.63. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.71%.

Analyst Ratings Changes

Several research firms recently issued reports on SYF. Royal Bank of Canada increased their price target on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. Bank of America increased their price target on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. UBS Group increased their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group increased their price target on shares of Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Seven research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.30.

Synchrony Financial 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.