Welcome to our dedicated page for SYNCHRONY FINANCIAL news (Ticker: $SYF), a resource for investors and traders seeking the latest updates and insights on SYNCHRONY FINANCIAL stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SYNCHRONY FINANCIAL's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
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Synchrony (SYF) kicks off 2024 with its annual 'Doubles Dive' charity event, raising over $113,000 for SeriousFun Children's Network. Celebrating 10 years since IPO, the company has raised over $1 million for charities since 2016.
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Synchrony's CFO, Brian J. Wenzel, to participate in a fireside chat at UBS Financial Services Conference on February 27, 2024. Live webcast and replay details provided.
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Synchrony and PatientNow announced a partnership to integrate CareCredit health and wellness credit card as a primary financing option in PatientNow's cloud-based practice management solution. The partnership aims to transform payments and simplify work across cosmetic practices and the medical spa industry, providing customized financing options, enhanced account management solutions, and marketing capabilities. The integration also includes new digital features such as Synchrony's Quickscreen application and customer self-service capabilities. The alliance seeks to improve revenue cycle management, reduce administrative costs, and improve workflows for providers in the cosmetic industry.
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Synchrony Financial (NYSE: SYF) has declared a quarterly cash dividend of $0.25 per share of common stock and a quarterly cash dividend on the outstanding shares of its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A. The dividends are payable on February 15, 2024, to holders of record at the close of business on February 5, 2024. The dividend for the Series A Preferred Stock is approximately $14.06 per share (equivalent to $0.351563 per outstanding depositary share).
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1.29%
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Synchrony Financial (SYF) released its fourth quarter 2023 results, reporting a net income of $1.2 billion, an increase of 15% from the previous year. The company also announced a dividend of $0.25 per share. Synchrony's total revenue for the quarter was $4.5 billion, marking a 10% increase year-over-year. The company's loan receivables grew to $94 billion, a 12% increase from the previous year. Synchrony's digital sales accounted for 52% of total sales, showing a strong performance in the online retail sector. However, the company experienced a 2% increase in provision for credit losses, reaching $1.3 billion. Synchrony's stock price rose by 5% following the earnings release.
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Synchrony (SYF) has entered into a definitive agreement to acquire Ally Financial Inc.'s point of sale financing business, including $2.2 billion of loan receivables. This acquisition expands Synchrony's reach in the home improvement and health and wellness financing industry, offering both revolving credit and installment loans at the point-of-sale. The deal is expected to be accretive to Synchrony's earnings per share in 2024, with an attractive internal rate of return and a three-and-a-half-year tangible book value earnback. Ally Financial expects the sale to increase the company's CET1 ratio and be modestly accretive to tangible book value and earnings per share in 2024.
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Synchrony (NYSE: SYF) is testing a browser extension for its General Purpose Credit Cards on Chrome desktop browsers, aiming to increase sales for Synchrony cardholders at Synchrony merchants. The extension provides a virtual card for purchases and prompts cardholders during the checkout process. The company plans to scale the capability to more Synchrony credit cards if successful.
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Synchrony (NYSE: SYF) announces a multi-year partnership renewal with The Good Feet Store, offering CareCredit health and wellness credit card as an in-store payment option. The partnership contributed to a 10% increase in average transaction total and a 35% increase in total number of transactions in 2023. 30% of The Good Feet Store's sales were from existing CareCredit cardholders.
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Synchrony (NYSE: SYF) partners with Destination Pet to offer CareCredit as a financing solution for all locations nationwide, including pet resorts, marking Synchrony's first-ever partnership with a pet resort group. The agreement allows clients to use their CareCredit card to pay for any Destination Pet service, creating a seamless financing experience. Pet owners can prequalify for the CareCredit credit card in real time with no impact to their credit score, and apply on any smart device, at any Destination Pet location or veterinary practice or over the phone.
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Synchrony (NYSE: SYF) plans to report its fourth quarter 2023 results on Tuesday, January 23, 2024. The earnings release and presentation materials will be available on the Investor Relations section of the Company's website. A conference call to discuss Synchrony's results will be held at 8:00 a.m. Eastern Time on that day.
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SYNCHRONY FINANCIAL
NYSE:SYF
SYF Rankings
SYF Stock Data
18.31B
402.82M
0.59%
99.48%
2.68%
All Other Nondepository Credit Intermediation
Finance and Insurance
United States of America
STAMFORD
About SYF
synchrony financial is one of the premier consumer financial services companies in the united states. our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the united states based on purchase volume and receivables. we provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. through our partners’ more than 300,000 locations across the united states and canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. our offerings include private label credit cards, promotional financing and installment lending, loyalty programs and optimizer+plus branded fdic-insured sa