Synchrony Financial Stock Price, News & Analysis

Cutera and Synchrony have formed an exclusive partnership to enhance patient financing for dermatology practices in the U.S., facilitating access to AviClear, the first FDA-cleared laser treatment for acne. This collaboration aims to alleviate cost concerns for millions of acne sufferers by allowing practices to offer CareCredit payment options, making treatments more accessible. This initiative is expected to boost patient confidence and address the emotional impact of acne, providing a valuable resource for families seeking effective acne solutions.

Synchrony Financial (NYSE: SYF) announced a new share repurchase program of up to $2.8 billion, set to commence this quarter and run through June 30, 2023. This program adds to the remaining $250 million from a prior initiative, increasing total repurchase authorization to approximately $3.1 billion. Additionally, the company plans to raise its quarterly dividend from $0.22 to $0.23 per share, starting in the third quarter of 2022. The share repurchases will depend on market conditions and regulatory factors.

Synchrony Financial (NYSE: SYF) reported its Q1 2022 financial results for the period ending March 31, 2022. Key highlights include a comprehensive review of their digital product suite, which serves various sectors such as retail and healthcare. An investor conference call is scheduled for 8:00 AM ET to discuss these results and future business drivers. Detailed financial data can be accessed on its investor relations website. Synchrony aims to connect partners and consumers through innovative financing solutions and a seamless digital experience.

Synchrony (NYSE: SYF) and Guitar Center have renewed their strategic partnership, initiated in 2015, to provide a private label credit program for customers. This program allows flexible financing options, with Guitar Center Gear Card customers receiving 5% rewards on purchases across nearly 300 Guitar Center locations and online. The partnership aims to make music more accessible for musicians, from beginners to professionals, by reducing financial barriers. Synchrony emphasizes enhancing customer experience via prequalification processes for credit without affecting credit scores.

Synchrony (NYSE: SYF) has joined the Worker Financial Wellness Initiative, a coalition focused on enhancing workers' financial health and security, alongside notable companies like Chipotle and Prudential. This initiative emphasizes the importance of financial well-being in overall workforce resilience. Synchrony is committed to conducting financial wellness assessments and has previously raised its minimum wage to $20 per hour. The company also highlights its competitive benefits, supporting employees' wellness across various domains, including health and finances.

PayPal has launched a new Cashback Credit Card in partnership with Synchrony, offering customers 3% cash back on PayPal purchases and 2% on all other Mastercard transactions. The card comes with no annual fee and allows for easy integration with the PayPal wallet. Customers can earn a one-time $100 bonus after spending $500 within the first three months. The initiative aims to enhance user experience and reward shopping versatility, responding to evolving consumer behaviors post-pandemic. Existing PayPal 2% Cashback cardholders will automatically transition to the new 3% structure.

Synchrony (NYSE: SYF) appointed Kamila Chytil to its board of directors, effective April 1, 2022. Chytil, who has extensive expertise in payments and financial services, currently leads operations at DentaQuest and previously served as COO at MoneyGram International. Her appointment aims to enhance innovation and growth in Synchrony's payments ecosystem. The board now consists of thirteen members, maintaining a commitment to diversity. President and CEO Brian Doubles expressed excitement about Chytil's contributions to the company.

Synchrony (NYSE: SYF) will announce its first quarter 2022 financial results on April 18, 2022. The earnings release along with presentation materials will be available at approximately 6:00 a.m. Eastern Time on the company’s Investor Relations website. A conference call to discuss the results is scheduled for 8:00 a.m. Eastern Time on the same day, with a live audio webcast available for investors. Synchrony is a leading consumer financial services company that specializes in private label credit cards and various consumer banking products.