TD Asset Management Inc Invests $428,000 in Bread Financial Holdings, Inc. (NYSE:BFH)

TD Asset Management Inc purchased a new position in shares of Bread Financial Holdings, Inc. (NYSE:BFH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,600 shares of the company’s stock, valued at approximately $428,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Bread Financial by 3.8% during the first quarter. Vanguard Group Inc. now owns 5,847,645 shares of the company’s stock worth $217,766,000 after purchasing an additional 216,274 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Bread Financial by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,000,035 shares of the company’s stock worth $98,823,000 after acquiring an additional 256,221 shares during the period. Wellington Management Group LLP lifted its stake in shares of Bread Financial by 7.8% in the fourth quarter. Wellington Management Group LLP now owns 2,107,253 shares of the company’s stock worth $69,413,000 after acquiring an additional 152,954 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Bread Financial by 14.0% in the fourth quarter. Pzena Investment Management LLC now owns 807,557 shares of the company’s stock worth $26,601,000 after acquiring an additional 99,029 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bread Financial by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 672,141 shares of the company’s stock worth $22,140,000 after acquiring an additional 37,005 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Bread Financial from $40.00 to $53.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. Compass Point lifted their price objective on Bread Financial from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price objective on Bread Financial from $47.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. JMP Securities reaffirmed a “market perform” rating on shares of Bread Financial in a research note on Thursday, June 20th. Finally, TD Cowen boosted their price target on Bread Financial from $44.00 to $57.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Bread Financial Price Performance

Shares of NYSE:BFH opened at $48.10 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.41. Bread Financial Holdings, Inc. has a twelve month low of $26.08 and a twelve month high of $59.66. The stock’s 50 day moving average is $51.82 and its 200-day moving average is $43.66. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 6.06, a PEG ratio of 0.16 and a beta of 1.95.

Bread Financial (NYSE:BFH) last issued its earnings results on Thursday, July 25th. The company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $1.06. Bread Financial had a return on equity of 16.24% and a net margin of 9.77%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $922.01 million. During the same period in the prior year, the firm earned $1.27 earnings per share. Bread Financial’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts forecast that Bread Financial Holdings, Inc. will post 7.49 EPS for the current fiscal year.

Bread Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 9th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, August 9th. This represents a $0.84 annualized dividend and a yield of 1.75%. Bread Financial’s dividend payout ratio (DPR) is currently 10.58%.

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.