Bread Financial (NYSE:BFH) Given New $58.00 Price Target at The Goldman Sachs Group

Bread Financial (NYSE:BFH) had its price objective lowered by investment analysts at The Goldman Sachs Group from $68.00 to $58.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 20.26% from the stock’s current price.

Several other research analysts have also recently issued reports on BFH. Compass Point raised their target price 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 lifted their price objective on Bread Financial from $62.00 to $68.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their target price on Bread Financial from $67.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays lifted their price target on Bread Financial from $51.00 to $53.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Finally, JMP Securities reissued a “market perform” rating on shares of Bread Financial in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.69.

Bread Financial Stock Performance

Shares of NYSE:BFH traded up $0.27 on Tuesday, hitting $48.23. 222,131 shares of the company were exchanged, compared to its average volume of 794,480. The firm has a market capitalization of $2.37 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 1.25 and a beta of 1.96. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.33. Bread Financial has a 1-year low of $32.10 and a 1-year high of $66.71. The stock’s 50 day moving average price is $58.05 and its 200 day moving average price is $56.47.

Bread Financial (NYSE:BFH) last issued its earnings results on Thursday, January 30th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. Sell-side analysts predict that Bread Financial will post 6.45 EPS for the current year.

Bread Financial announced that its board has approved a share repurchase program on Wednesday, March 5th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its holdings in shares of Bread Financial by 2,083.3% during the fourth quarter. Picton Mahoney Asset Management now owns 524 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Pinnacle Holdings LLC acquired a new position in Bread Financial in the 4th quarter valued at $46,000. Smartleaf Asset Management LLC raised its stake in Bread Financial by 207.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,394 shares of the company’s stock valued at $86,000 after purchasing an additional 941 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Bread Financial in the 4th quarter valued at $104,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Bread Financial by 64.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,631 shares of the company’s stock worth $125,000 after buying an additional 1,033 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.