Assetmark Inc. Buys 5,320 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Assetmark Inc. raised its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,399 shares of the company’s stock after purchasing an additional 5,320 shares during the quarter. Assetmark Inc. owned 0.21% of Bread Financial worth $6,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BFH. CIBC Asset Management Inc lifted its holdings in shares of Bread Financial by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 4,872 shares of the company’s stock worth $297,000 after acquiring an additional 206 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Bread Financial by 5.8% in the 4th quarter. Savant Capital LLC now owns 5,329 shares of the company’s stock worth $325,000 after acquiring an additional 290 shares during the last quarter. Highland Capital Management LLC lifted its holdings in shares of Bread Financial by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 5,734 shares of the company’s stock worth $350,000 after acquiring an additional 350 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Bread Financial by 2.8% in the 3rd quarter. Natixis Advisors LLC now owns 13,421 shares of the company’s stock worth $639,000 after acquiring an additional 369 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Bread Financial by 36.1% in the 4th quarter. KBC Group NV now owns 2,103 shares of the company’s stock worth $128,000 after acquiring an additional 558 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BFH. Compass Point boosted their price objective on shares of Bread Financial from $75.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on shares of Bread Financial from $62.00 to $68.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. The Goldman Sachs Group lifted their target price on shares of Bread Financial from $52.00 to $58.00 and gave the stock a “sell” rating in a research note on Tuesday, November 19th. Morgan Stanley raised shares of Bread Financial from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $76.00 in a research note on Thursday, December 19th. Finally, Barclays lifted their target price on shares of Bread Financial from $51.00 to $53.00 and gave the stock an “underweight” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.69.

Bread Financial Stock Performance

Bread Financial stock opened at $48.73 on Friday. The stock’s 50 day simple moving average is $59.66 and its two-hundred day simple moving average is $56.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 1.25 and a beta of 1.96. Bread Financial Holdings, Inc. has a fifty-two week low of $32.10 and a fifty-two week high of $66.71.

Bread Financial (NYSE:BFH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. As a group, analysts expect that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial declared that its board has initiated a stock buyback plan on Wednesday, March 5th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Bread Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, February 14th. This represents a $0.84 annualized dividend and a yield of 1.72%. Bread Financial’s payout ratio is 15.14%.

About Bread Financial

Bread Financial Holdings, Inc provides tech-forward payment and lending solutions to customers and consumer-based industries in North America. It offers credit card and other loans financing services, including risk management solutions, account origination, and funding services for private label and co-brand credit card programs, as well as through Bread partnerships; and Comenity-branded general purpose cash-back credit.