Synchrony Financial operates as a consumer financial services company in the United States. It provides a range of specialized financing programs and consumer banking products to digital, retail, home, auto, travel, health, and pet industries. The company also offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards, dual cards, and installment loans. In addition, it provides promotional financing to consumers for health, veterinary and personal care procedures, and services and products, such as dental, vision, audiology, and cosmetic; debt cancellation products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms. The company offers its credit products through programs established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations, and healthcare service providers; and deposit products through various channels, such as digital and print. Synchrony Financial was incorporated in 2003 and is headquartered in Stamford, Connecticut.
IPO Year: 2014
Exchange: NYSE
Website: synchrony.com
Date | Price Target | Rating | Analyst |
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8/9/2024 | $54.00 | Neutral → Buy | BofA Securities |
7/16/2024 | $56.00 | Buy | Compass Point |
6/28/2024 | $56.00 | Outperform | Robert W. Baird |
6/7/2024 | $60.00 | Buy | BTIG Research |
5/2/2024 | $45.00 → $62.00 | Mkt Perform → Outperform | Keefe Bruyette |
4/4/2024 | $36.00 → $50.00 | Underperform → Outperform | Wolfe Research |
2/8/2024 | $30.00 | Underweight | Morgan Stanley |
1/10/2024 | $56.00 | Buy | Deutsche Bank |
1/10/2024 | $40.00 | Outperform → Market Perform | BMO Capital Markets |
11/15/2023 | $31.00 | Equal Weight | Barclays |
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BofA Securities upgraded Synchrony Financial from Neutral to Buy and set a new price target of $54.00
Compass Point initiated coverage of Synchrony Financial with a rating of Buy and set a new price target of $56.00
Robert W. Baird initiated coverage of Synchrony Financial with a rating of Outperform and set a new price target of $56.00
BTIG Research initiated coverage of Synchrony Financial with a rating of Buy and set a new price target of $60.00
Keefe Bruyette upgraded Synchrony Financial from Mkt Perform to Outperform and set a new price target of $62.00 from $45.00 previously
Wolfe Research upgraded Synchrony Financial from Underperform to Outperform and set a new price target of $50.00 from $36.00 previously
Morgan Stanley resumed coverage of Synchrony Financial with a rating of Underweight and set a new price target of $30.00
Deutsche Bank initiated coverage of Synchrony Financial with a rating of Buy and set a new price target of $56.00
BMO Capital Markets downgraded Synchrony Financial from Outperform to Market Perform and set a new price target of $40.00
Barclays initiated coverage of Synchrony Financial with a rating of Equal Weight and set a new price target of $31.00
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STAMFORD, Conn., Sept. 3, 2024 /PRNewswire/ -- Synchrony (NYSE: SYF) Chief Financial Officer, Brian J. Wenzel, will participate in a fireside chat at the Barclays Global Financial Services Conference on Monday, September 9, 2024 at 9:00 a.m. (Eastern Time). A live webcast and replay will be made available on the Synchrony Investor Relations website at www.investors.synchrony.com. About SynchronySynchrony (NYSE:SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and sca
BASKING RIDGE, N.J., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Verizon announced today exciting updates to Verizon Visa® Card, the only credit card that lets you earn Verizon Dollars on everyday purchases. Issued by Synchrony, Verizon Visa Card adds even more value, offering customers new ways to save and now earn even more rewards. Enhanced benefits for Verizon Visa Card holders: Rewards on everyday purchases: Earn 4% on Verizon purchases (excluding bill payment), 4% at grocery stores, 4% on gas purchases, including EV charging, 4% on dining, including take-out and 1% on other purchases. Verizon Dollars can be put towards your monthly Verizon bill and devices and accessories purchases at Verizo
Company also declares preferred stock dividends STAMFORD, Conn., July 23, 2024 /PRNewswire/ -- Synchrony Financial (NYSE: SYF) announced today that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock, payable on August 15, 2024 to holders of record at the close of business on August 5, 2024. The Board of Directors also declared a quarterly cash dividend on the outstanding shares of its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock") and 8.250% Fixed Rate Reset Non-Cumulative Perpetua
NEW YORK, July 18, 2024 /PRNewswire/ -- New York-based Coast, which offers a simple and smart way for companies in the United States to manage fuel and fleet spending, today announced it has raised $40 million in new Series B financing, led by ICONIQ Growth. The round included participation from existing investors Accel, Insight Partners, Vesey Ventures, and Avid Ventures, as well as new investors Thomvest. Coast also announced a strategic investment from Synchrony, a leading consumer financial services company delivering one of the industry's most complete digitally-enabled p
New Partnership Will Support Independent Vet Practices with Flexible Financing Options and Administrative Resources STAMFORD, Conn., July 18, 2024 /PRNewswire/ -- Synchrony (NYSE:SYF), a premier consumer finance company, has announced that its CareCredit health and wellness credit card will now be the preferred financing option for members of The Veterinary Cooperative (TVC), a positive cooperative community of veterinarians and suppliers who share a vision to provide the best animal care through independent veterinary practices. TVC is owned and guided by its independently owned veterinary members and is managed by professional cooperative personnel.
STAMFORD, Conn., July 17, 2024 /PRNewswire/ -- Synchrony Financial (NYSE:SYF) today announced its second quarter 2024 results for the period ending June 30, 2024. The earnings news release, financial tables and related materials can be found on the company's investor relations website at https://investors.synchrony.com/financial-results. Today at 8 a.m. ET, Brian Doubles, President and Chief Executive Officer, and Brian Wenzel Sr., Executive Vice President and Chief Financial Officer, will host a conference call to review the financial results and outlook for certain business
Enhanced Multi-Year Partnership Aims to Drive Merchants' and Partners' Business Growth with Seamless Customer Experience STAMFORD, Conn. and ATLANTA, June 26, 2024 /PRNewswire/ -- Synchrony (NYSE:SYF) announced today an enhanced partnership with Atlanticus Holdings Corporation (NASDAQ:ATLC). Atlanticus, through its bank partnerships, facilitates second look point-of-sale consumer credit programs spanning general purpose credit cards, private label credit cards, and installment loans predominately under the Fortiva brand. This enhanced partnership will deliver Synchrony merchants and partners a preferred second look financing solution designed to easily offer more customers access to credit,
STAMFORD, Conn., June 20, 2024 /PRNewswire/ -- Synchrony (NYSE:SYF) plans to report its second quarter 2024 results on Wednesday, July 17, 2024. The earnings release and presentation materials are scheduled to be released and posted to the Investor Relations section of the Company's website, www.investors.synchrony.com, at approximately 6:00 a.m. Eastern Time. A conference call to discuss Synchrony's results will be held at 8:00 a.m. Eastern Time on that day; the live audio webcast and replay can be accessed through the same website under Events and Presentations. About Synchr
HYDERABAD, India, June 19, 2024 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, announced today that it has been recognized among India's Best Companies to Work For. This is Synchrony's seventh consecutive year being honored with the award, solidifying its position as a national leader in fostering a positive, people-centric workplace culture. "This recognition is a tremendous honor and a testimony to the hardworking team we have here at Synchrony. Investing in our people is our top priority. At Synchrony, we believe in the power of rela
Partnership Allows Customers to Pay for Kitchen, Bath and Flooring Installations Over Time DAWSONVILLE, Ga. and STAMFORD, Conn., June 4, 2024 /PRNewswire/ -- Synchrony (NYSE: SYF), a leading consumer financing company, and Installation Made Easy (IME), a leading enterprise software and services company supporting retail-based home improvement programs, today announced a new partnership to simplify the financing of kitchen, bath and flooring installations for homeowners. As part of the partnership, homeowners can purchase materials from Floor & Decor and immediately schedule an
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Wells Fargo analyst Donald Fandetti maintains Synchrony Finl (NYSE:SYF) with a Equal-Weight and raises the price target from $49 to $53.
JMP Securities analyst David Scharf reiterates Synchrony Finl (NYSE:SYF) with a Market Outperform and maintains $60 price target.
Synchrony Financial (NYSE:SYF) reported better-than-expected second-quarter results on Wednesday. The company posted quarterly net interest income of $4.405 billion, beating the consensus of $4.287 billion. The company reported EPS of $1.55, above the consensus of $1.3, according to data from Benzinga Pro. Loan receivables rose 8% to $102.3 billion, and purchase volume declined 1% to $46.8 billion. Interest and fees on loans increased 10% year over year to $5.3 billion, led by increased average loan receivables. For FY24, Synchrony said it expects EPS of $7.60 – $7.80 versus $7.25 consensus; this includes the late fee rule implementation date of October 1, 2024, the impact of PPPC p
Barclays analyst Terry Ma maintains Synchrony Finl (NYSE:SYF) with a Equal-Weight and raises the price target from $46 to $49.
Goldman Sachs analyst Alex Scott maintains Synchrony Finl (NYSE:SYF) with a Buy and raises the price target from $49 to $56.
RBC Capital analyst Jon Arfstrom maintains Synchrony Finl (NYSE:SYF) with a Sector Perform and raises the price target from $50 to $55.
BMO Capital analyst James Fotheringham maintains Synchrony Finl (NYSE:SYF) with a Market Perform and lowers the price target from $42 to $41.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Baird boosted the price target for e.l.f. Beauty, Inc. (NYSE:ELF) from $210 to $230. Baird analyst Joel Beatty upgraded the stock from Neutral to Outperform. e.l.f. Beauty shares declined 9.7% to close at $170.70 on Wednesday. See how other analysts view this stock. B of A Securities increased the price target for Synchrony Financial (NYSE:SYF) from $51 to $56. B of A Securities analyst Mihir Bhatia maintained a Neutral rating Synchrony Financial shares gained 1% to close at $52.22 on Wednesday. Se
B of A Securities analyst Mihir Bhatia maintains Synchrony Finl (NYSE:SYF) with a Neutral and raises the price target from $51 to $56.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, with the index moving to the “Neutral” zone on Wednesday. U.S. stocks closed mixed on Wednesday, with the Nasdaq Composite recording its worst session since Dec. 2022. On the economic data front, industrial production in the U.S. climbed 0.6% from a month ago in June compared to market estimates of a 0.3% gain. U.S. housing starts increased by 3% from the prior month to an annualized rate of 1,314,000 in June, while building permits climbed by 3.4% to an annual rate of 1.446 million in June. Semiconductor stocks moved lower on Wednesday amid reports Biden is considering further China restrictions an
Company also declares preferred stock dividends STAMFORD, Conn., July 23, 2024 /PRNewswire/ -- Synchrony Financial (NYSE: SYF) announced today that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock, payable on August 15, 2024 to holders of record at the close of business on August 5, 2024. The Board of Directors also declared a quarterly cash dividend on the outstanding shares of its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock") and 8.250% Fixed Rate Reset Non-Cumulative Perpetua
STAMFORD, Conn., July 17, 2024 /PRNewswire/ -- Synchrony Financial (NYSE:SYF) today announced its second quarter 2024 results for the period ending June 30, 2024. The earnings news release, financial tables and related materials can be found on the company's investor relations website at https://investors.synchrony.com/financial-results. Today at 8 a.m. ET, Brian Doubles, President and Chief Executive Officer, and Brian Wenzel Sr., Executive Vice President and Chief Financial Officer, will host a conference call to review the financial results and outlook for certain business
STAMFORD, Conn., June 20, 2024 /PRNewswire/ -- Synchrony (NYSE:SYF) plans to report its second quarter 2024 results on Wednesday, July 17, 2024. The earnings release and presentation materials are scheduled to be released and posted to the Investor Relations section of the Company's website, www.investors.synchrony.com, at approximately 6:00 a.m. Eastern Time. A conference call to discuss Synchrony's results will be held at 8:00 a.m. Eastern Time on that day; the live audio webcast and replay can be accessed through the same website under Events and Presentations. About Synchr
STAMFORD, Conn., April 24, 2024 /PRNewswire/ -- Synchrony Financial (NYSE:SYF) today announced its first quarter 2024 results for the period ending March 31, 2024. The earnings news release, financial tables and related materials can be found on the company's investor relations website at https://investors.synchrony.com/financial-information/financial-results. Today at 8:00 AM ET, Brian Doubles, President and Chief Executive Officer, and Brian Wenzel Sr., Executive Vice President and Chief Financial Officer, will host a conference call to review the financial results and outlo
STAMFORD, Conn., March 26, 2024 /PRNewswire/ -- Synchrony (NYSE:SYF) plans to report its first quarter 2024 results on Wednesday, April 24, 2024. The earnings release and presentation materials are scheduled to be released and posted to the Investor Relations section of the Company's website, www.investors.synchrony.com, at approximately 6:00 a.m. Eastern Time. A conference call to discuss Synchrony's results will be held at 8:00 a.m. Eastern Time on that day; the live audio webcast and replay can be accessed through the same website under Events and Presentations. About Sync
Company also declares preferred stock dividend STAMFORD, Conn., Jan. 24, 2024 /PRNewswire/ -- Synchrony Financial (NYSE: SYF) announced today that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock, payable on February 15, 2024 to holders of record at the close of business on February 5, 2024. The Board of Directors also declared a quarterly cash dividend on the outstanding shares of its 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock"). Each outstanding share of the Series A Preferr
STAMFORD, Conn., Jan. 23, 2024 /PRNewswire/ -- Synchrony Financial (NYSE: SYF) today announced its fourth quarter 2023 results for the period ending December 31, 2023. The earnings news release, financial tables and related materials can be found on the company's investor relations website at https://investors.synchrony.com/financial-results. Today at 8:00 AM ET, Brian Doubles, President and Chief Executive Officer, and Brian Wenzel Sr., Executive Vice President and Chief Financial Officer, will host a conference call to review the financial results and outlook for certain bus
Acquisition Enhances Synchrony's Reach and Scale in Home Improvement and Health and Wellness Financing; Sale Enables Ally To Invest Its Resources in Growing Scale Businesses and Strengthening Relationships with Dealer Customers and Consumers STAMFORD, Conn. and CHARLOTTE, N.C., Jan. 19, 2024 /PRNewswire/ -- Synchrony (NYSE:SYF) and Ally Financial Inc. (NYSE: ALLY), today announced that they have entered into a definitive agreement for Synchrony to acquire Ally's point of sale financing business including $2.2 billion of loan receivables.* The portfolio includes relationships with nearly 2,500 merchant locations and supports more than 450,000 active borrowers in home improvement services an
STAMFORD, Conn., Jan. 2, 2024 /PRNewswire/ -- Synchrony (NYSE:SYF) plans to report its fourth quarter 2023 results on Tuesday, January 23, 2024. The earnings release and presentation materials are scheduled to be released and posted to the Investor Relations section of the Company's website, www.investors.synchrony.com, at approximately 6:00 a.m. Eastern Time. A conference call to discuss Synchrony's results will be held at 8:00 a.m. Eastern Time on that day; the live audio webcast and replay can be accessed through the same website under Events and Presentations. About Synch
STAMFORD, Conn., Sept. 26, 2023 /PRNewswire/ -- Synchrony (NYSE:SYF) plans to report its third quarter 2023 results on Tuesday, October 24, 2023. The earnings release and presentation materials are scheduled to be released and posted to the Investor Relations section of the Company's website, www.investors.synchrony.com, at approximately 6:00 a.m. Eastern Time. A conference call to discuss Synchrony's results will be held at 8:00 a.m. Eastern Time on that day; the live audio webcast and replay can be accessed through the same website under News and Events. About SynchronySync
Synchrony Expands Leadership in the Pet Industry Through Ownership Stake in IPH; Two Synchrony Executives to Join IPH Board of Directors PHOENIX and STAMFORD, Conn., March 6, 2024 /PRNewswire/ -- Independence Pet Holdings, Inc. ("IPH"), a leading multi-brand, multi-channel pet insurance provider, and Synchrony (NYSE:SYF), a premiere consumer financial services company, today announced that IPH has completed the acquisition of Pets Best Insurance Services, LLC ("Pets Best") from Synchrony. Synchrony received a portion of the consideration as an equity investment in IPH and committed to enter into a commercial agreement with IPH, both of which will help expand IPH's activities in the pet indus
STAMFORD, Conn., Sept. 2, 2022 /PRNewswire/ -- Synchrony (NYSE:SYF), a premier consumer financial services company, today announced Will Graylin has resigned from its Board of Directors. Graylin is leaving to focus on leading OV Loop, an everywhere-commerce super-app company he founded, and Indigo Tech, a next generation EV company powered by road sensing smart-wheels, where he serves as Chairman and Chief Executive Officer. Graylin, who has been a Synchrony Board member since 2015, has no disagreements with the Company and is leaving on good terms. "On behalf of our Board and
NASHVILLE, Tenn., April 6, 2022 /PRNewswire/ -- Phosphorus Cybersecurity™, the leading provider of full scope security for Internet of Things devices, is pleased to announce the appointment of security industry luminary Art Coviello Jr. as Chairman of its Board of Directors. Coviello's appointment reflects his belief in Phosphorus Cybersecurity™ as the only company with a robust and proven security solution for protecting the Internet of Things from malicious cyber attacks and insider attacks. Coviello will provide strategic guidance to Phosphorus Cybersecurity™'s executive l
Leading technology and operations executive brings additional expertise in payments and financial services STAMFORD, Conn., April 4, 2022 /PRNewswire/ -- Synchrony (NYSE:SYF), a premier consumer financial services company, today announced Kamila Chytil has been appointed to Synchrony's board of directors, effective April 1. "We're excited to welcome Kamila to the Synchrony Board of Directors," said Brian Doubles, Synchrony president and chief executive officer. "Kamila brings extensive expertise in electronic payments technology and operations and will be a valuable member of
STAMFORD, Conn., Jan. 12, 2021 /PRNewswire/ -- Synchrony (NYSE: SYF) today announced Margaret Keane, Chief Executive Officer, will transition to the role of Executive Chair of the Board of Directors of Synchrony. Synchrony's Board of Directors unanimously elected Brian Doubles, President, to become President and Chief Executive Officer and a member of the Board of Directors. Both appointments are effective April 1, 2021. Synchrony (NYSE: SYF), a leading consumer finance company, announced today that its Board of Directors approved a planned succession process that will become effective on April 1, 2021. Margaret Keane (left), Synchrony’s CEO, will transition from CEO to Executi