Mackenzie Financial Corp Purchases 22,373 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Mackenzie Financial Corp grew its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 122.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,622 shares of the company's stock after purchasing an additional 22,373 shares during the period. Mackenzie Financial Corp owned about 0.08% of Bread Financial worth $2,480,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of Bread Financial by 15.1% in the fourth quarter. US Bancorp DE now owns 15,087 shares of the company's stock worth $921,000 after buying an additional 1,977 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Bread Financial by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 241,087 shares of the company's stock worth $14,721,000 after buying an additional 6,888 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Bread Financial by 68.5% in the fourth quarter. New York State Common Retirement Fund now owns 36,419 shares of the company's stock worth $2,224,000 after buying an additional 14,800 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Bread Financial in the fourth quarter worth about $201,000. Finally, Atria Investments Inc purchased a new position in shares of Bread Financial in the fourth quarter worth about $308,000. Institutional investors own 99.52% of the company's stock.

Bread Financial Stock Performance

Shares of NYSE BFH traded up $0.02 during midday trading on Monday, hitting $51.26. 438,159 shares of the stock traded hands, compared to its average volume of 870,183. The firm has a 50-day moving average of $49.05 and a two-hundred day moving average of $55.43. The firm has a market capitalization of $2.39 billion, a P/E ratio of 9.23, a PEG ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.15 and a current ratio of 1.15. Bread Financial Holdings, Inc. has a one year low of $38.21 and a one year high of $66.71.

Bread Financial (NYSE:BFH - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.76. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. The company had revenue of $970.00 million for the quarter, compared to analysts' expectations of $956.17 million. During the same period last year, the firm earned $2.73 EPS. Bread Financial's revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities analysts forecast that Bread Financial Holdings, Inc. will post 6.45 EPS for the current fiscal year.

Bread Financial announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Bread Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, May 9th. Bread Financial's dividend payout ratio (DPR) is presently 14.92%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BFH. The Goldman Sachs Group decreased their price objective on Bread Financial from $68.00 to $58.00 and set a "sell" rating on the stock in a report on Tuesday, March 18th. Jefferies Financial Group upped their target price on Bread Financial from $45.00 to $50.00 and gave the stock a "hold" rating in a report on Thursday, April 24th. JMP Securities reiterated a "market perform" rating on shares of Bread Financial in a report on Monday, April 28th. Finally, Morgan Stanley boosted their price target on Bread Financial from $36.00 to $39.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.27.

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.