Trustmark National Bank Trust Department Has $2.13 Million Position in Synchrony Financial (NYSE:SYF)

Trustmark National Bank Trust Department decreased its holdings in shares of Synchrony Financial (NYSE:SYF) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,663 shares of the financial services provider’s stock after selling 1,108 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Synchrony Financial were worth $2,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new position in Synchrony Financial in the 1st quarter valued at about $213,000. UniSuper Management Pty Ltd increased its stake in shares of Synchrony Financial by 417.6% during the first quarter. UniSuper Management Pty Ltd now owns 26,824 shares of the financial services provider’s stock worth $1,157,000 after purchasing an additional 21,642 shares during the period. Lake Street Advisors Group LLC bought a new position in shares of Synchrony Financial during the first quarter worth approximately $216,000. Toronto Dominion Bank lifted its holdings in Synchrony Financial by 0.4% during the 1st quarter. Toronto Dominion Bank now owns 236,147 shares of the financial services provider’s stock worth $10,183,000 after purchasing an additional 1,029 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Synchrony Financial by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,300,576 shares of the financial services provider’s stock valued at $56,082,000 after purchasing an additional 342,979 shares during the period. 96.48% of the stock is owned by institutional investors.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the transaction, the insider now owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Synchrony Financial Price Performance

Synchrony Financial stock opened at $64.40 on Thursday. The firm has a market cap of $25.07 billion, a P/E ratio of 8.41, a P/E/G ratio of 0.88 and a beta of 1.59. The stock’s 50 day moving average is $55.06 and its 200 day moving average is $49.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. Synchrony Financial has a one year low of $29.15 and a one year high of $67.76.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts expect that Synchrony Financial will post 6.52 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were paid a $0.25 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. Synchrony Financial’s dividend payout ratio is currently 13.05%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYF. Compass Point lifted their target price on Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group raised their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. TD Cowen boosted their price target on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays raised their price objective on Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

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.