Synchrony Financial Stock Price, News & Analysis

A new Coresight Research study highlights changing US holiday shopping trends, showing an increased reliance on e-commerce and an extended shopping period. The study indicates that 64% of shoppers shifted to online purchases due to COVID-19, with e-commerce sales expected to account for 21% of total holiday sales in Q4 2021. Key findings suggest that retailers should enhance their online strategies, including early promotions and improved customer experiences. The study also notes that demand for gift cards remains strong, and personalization could significantly benefit the gifting process.

Synchrony (NYSE: SYF) announced a new program to prepare underserved high school students in Stamford, Connecticut for careers in the digital economy. The initiative includes a donation of $300,000 to support the Synchrony Skills Academy, which will enroll 50 students in training and summer immersion programs starting in early 2022. Participants will gain skills in areas like coding and web development, while also receiving college and career assistance. This program aims to address the skills gap in Connecticut, where nearly 40% of employers reported difficulty finding qualified candidates.

Synchrony (NYSE: SYF) announced that its Executive Vice President and Chief Financial Officer, Brian J. Wenzel, will participate in a fireside chat at the Bank of America Merrill Lynch Banking and Financials Conference on November 9, 2021, at 11:20 a.m. Eastern Time. A live webcast of the event will be available on the Synchrony Investor Relations website. Synchrony is a premier consumer financial services company that provides a variety of financing programs across multiple industries.

Prime Healthcare has partnered with Synchrony (NYSE: SYF) to introduce new patient financing options across its 45 hospitals in 14 states. This collaboration will enable patients to use CareCredit, a healthcare credit card, for various healthcare expenses, enhancing price transparency and affordability. Patients can apply online or in-person, with immediate credit decisions. The initiative aims to address rising out-of-pocket healthcare costs and improve the patient experience through flexible financing options, including deferred interest plans.

Synchrony Financial (NYSE: SYF) declared a quarterly cash dividend of $0.22 per share on October 21, 2021, payable on November 12, 2021, with a record date of November 1, 2021. Additionally, the Board announced a dividend of approximately $14.06 per share for its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on November 15, 2021, also with a record date of November 1, 2021. These actions reflect the company's ongoing commitment to returning value to shareholders.

Synchrony Financial (NYSE: SYF) has announced its third quarter 2021 results, concluding on September 30, 2021. The earnings report highlights the company's ongoing commitment to providing a range of consumer financial services across various industries, including digital and retail. Key financial metrics and additional details are available on their investor relations website. A conference call will be held to discuss these results further. For more information, visit the Synchrony website.

Synchrony (NYSE: SYF) has expanded its strategic partnership with Fiserv (NASDAQ: FISV), allowing small businesses to accept private label credit card payments through the Clover point-of-sale platform. This collaboration aims to enhance payment options, streamline customer experiences, and drive revenue growth for merchants. Synchrony products, including various financing solutions, will be accessible via the Clover App Market, enabling users to apply for credit on their mobile devices. The initiative targets to support small businesses across various sectors, enhancing access to financial services.

Synchrony (NYSE: SYF) announced the formation of the Latinx Executive Alliance, a coalition aimed at improving corporate representation for Latinx employees. This initiative responds to findings that, while the Latinx population comprises 18% of the U.S., only 4% hold executive roles in Fortune 500 companies. The alliance will hold its first virtual event, Impacto, on October 18, 2021, bringing together leaders to discuss challenges and define strategies for advancing Latinx talent in corporate America.

Synchrony (NYSE: SYF) will report its third quarter 2021 financial results on October 19, 2021, at approximately 6:00 a.m. Eastern Time. The earnings report and presentation materials will be available on its Investor Relations website. Following this, a conference call to discuss the results is set for 8:00 a.m. Eastern Time on the same day, accessible via the website's Events and Presentations section. As one of the largest issuers of private label credit cards in the U.S., Synchrony focuses on providing various consumer financial services across multiple industries.