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Synchrony Financial (SYF) Expands Longstanding Ties With CCA
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Synchrony Financial (SYF - Free Report) recently expanded its strategic financing partnership with CCA Global Partners, the retail and wholesale floor-covering group. The partners have shared a strong bond for more than a decade.
The multi-year deal equips SYF to offer easy and advanced financing options for CCA cardholders while purchasing flooring, kitchen, bath and lighting products and services coupled with bikes and fitness equipment from the latter's 2,000 member locations.
Some of the latest advancements that have been made by Synchrony Financial to the financing program of CCA include extended promotional financing offerings, online shopping cart processing integrations and extension of the digital tools of SYF like Direct to Device and dApply to CCA’s member businesses. With the help of such digital tools, customers can directly and safely send credit applications from their personal devices.
Simultaneously, CCA customers can now reap the benefits of the purchase prequalification process, which monitors the credit eligibility of clients without affecting their credit scores.
The recent tie-up renewal bears testament to Synchrony Financial’s continuous efforts to ease consumers’ financing application process by virtue of its digital prowess. The availability of a suitable financing solution that removes the need to make lumpsum payments and does not exert pressure on one’s finances might boost the purchasing power of consumers. All such efforts lead to a hassle-free purchase experience and attract newer partners as well as retain existing ones.
A series of acquisitions and partnerships with several payment solutions partners coupled with uninterrupted tech investments have led to a strong digital arm for SYF. This, in turn, has fetched the company several program agreements with some of the nation’s leading retailers and manufacturers. Roughly 57% of SYF’s consumer-revolving applications were processed through a digital channel in 2022, thereby substantiating the power of its digital capabilities.
Synchrony Financial seems to be on a spree this month to enter into partnerships to offer enhanced credit products and make a solid mark across diversified industries. While the tie-up with JTV was meant to effectively cater to the jewelry space, the partnership with Miracle-Ear reflected SYF’s ardent endeavor to establish a solid presence in the hearing care industry.
The list of Synchrony Financial’s partners is continually increasing, with more than 15 partners being added or relationships being renewed in the first quarter of 2023. The latest relationship renewal is likely to boost the revenues derived from its program agreements with partners.
Shares of Synchrony Financial have gained 10.6% in a year against the industry’s 3.8% decline. SYF currently carries a Zacks Rank #3 (Hold).
The bottom line of The Bancorp outpaced estimates in two of the last four quarters, matched the mark once and missed the same on the remaining one occasion, the average surprise being 3.50% The Zacks Consensus Estimate for TBBK’s 2023 earnings suggests an improvement of 58.6% from the year-ago reported figure, while the same for revenues suggests growth of 33.6%. The consensus mark for TBBK’s 2023 earnings has moved 6.5% north in the past 60 days.
Kite Realty Group’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 9.46%. The Zacks Consensus Estimate for KRG’s 2023 earnings suggests an improvement of 2.1% from the year-ago reported figure, while the same for revenues suggests growth of 1.8%. The consensus mark for KRG’s 2023 earnings has moved 1% north in the past 30 days.
The bottom line of Portman Ridge Finance outpaced estimates in two of the last four quarters and missed the mark twice, the average surprise being 5.70%. The Zacks Consensus Estimate for PTMN’s 2023 earnings suggests an improvement of 7.3% from the year-ago reported figure, while the same for revenues suggests growth of 15.3%. The consensus mark for PTMN’s 2023 earnings has moved 3.2% north in the past 60 days.
Shares of The Bancorp and Kite Realty Group have gained 64.9% and 13%, respectively, in a year. However, the Portman Ridge Finance stock has lost 12.1% in the same time frame.
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Synchrony Financial (SYF) Expands Longstanding Ties With CCA
Synchrony Financial (SYF - Free Report) recently expanded its strategic financing partnership with CCA Global Partners, the retail and wholesale floor-covering group. The partners have shared a strong bond for more than a decade.
The multi-year deal equips SYF to offer easy and advanced financing options for CCA cardholders while purchasing flooring, kitchen, bath and lighting products and services coupled with bikes and fitness equipment from the latter's 2,000 member locations.
Some of the latest advancements that have been made by Synchrony Financial to the financing program of CCA include extended promotional financing offerings, online shopping cart processing integrations and extension of the digital tools of SYF like Direct to Device and dApply to CCA’s member businesses. With the help of such digital tools, customers can directly and safely send credit applications from their personal devices.
Simultaneously, CCA customers can now reap the benefits of the purchase prequalification process, which monitors the credit eligibility of clients without affecting their credit scores.
The recent tie-up renewal bears testament to Synchrony Financial’s continuous efforts to ease consumers’ financing application process by virtue of its digital prowess. The availability of a suitable financing solution that removes the need to make lumpsum payments and does not exert pressure on one’s finances might boost the purchasing power of consumers. All such efforts lead to a hassle-free purchase experience and attract newer partners as well as retain existing ones.
A series of acquisitions and partnerships with several payment solutions partners coupled with uninterrupted tech investments have led to a strong digital arm for SYF. This, in turn, has fetched the company several program agreements with some of the nation’s leading retailers and manufacturers. Roughly 57% of SYF’s consumer-revolving applications were processed through a digital channel in 2022, thereby substantiating the power of its digital capabilities.
Synchrony Financial seems to be on a spree this month to enter into partnerships to offer enhanced credit products and make a solid mark across diversified industries. While the tie-up with JTV was meant to effectively cater to the jewelry space, the partnership with Miracle-Ear reflected SYF’s ardent endeavor to establish a solid presence in the hearing care industry.
The list of Synchrony Financial’s partners is continually increasing, with more than 15 partners being added or relationships being renewed in the first quarter of 2023. The latest relationship renewal is likely to boost the revenues derived from its program agreements with partners.
Shares of Synchrony Financial have gained 10.6% in a year against the industry’s 3.8% decline. SYF currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Finance space are The Bancorp, Inc. (TBBK - Free Report) , Kite Realty Group Trust (KRG - Free Report) and Portman Ridge Finance Corporation (PTMN - Free Report) . While The Bancorp currently sports a Zacks Rank #1 (Strong Buy), Kite Realty Group and Portman Ridge Finance carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of The Bancorp outpaced estimates in two of the last four quarters, matched the mark once and missed the same on the remaining one occasion, the average surprise being 3.50% The Zacks Consensus Estimate for TBBK’s 2023 earnings suggests an improvement of 58.6% from the year-ago reported figure, while the same for revenues suggests growth of 33.6%. The consensus mark for TBBK’s 2023 earnings has moved 6.5% north in the past 60 days.
Kite Realty Group’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 9.46%. The Zacks Consensus Estimate for KRG’s 2023 earnings suggests an improvement of 2.1% from the year-ago reported figure, while the same for revenues suggests growth of 1.8%. The consensus mark for KRG’s 2023 earnings has moved 1% north in the past 30 days.
The bottom line of Portman Ridge Finance outpaced estimates in two of the last four quarters and missed the mark twice, the average surprise being 5.70%. The Zacks Consensus Estimate for PTMN’s 2023 earnings suggests an improvement of 7.3% from the year-ago reported figure, while the same for revenues suggests growth of 15.3%. The consensus mark for PTMN’s 2023 earnings has moved 3.2% north in the past 60 days.
Shares of The Bancorp and Kite Realty Group have gained 64.9% and 13%, respectively, in a year. However, the Portman Ridge Finance stock has lost 12.1% in the same time frame.