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Bread Financial and KeyCorp among week’s top financial stock picks
Bread Financial builds private label and co-branded cards with retail partners, while KeyCorp serves middle-market commercial clients through a hybrid bank model.
Benzinga highlighted several financial sector stocks for the week, including Bread Financial. The company, formed from the combination of J.C. Penney’s credit card processing unit and The Limited’s credit card bank business, offers private label and co-branded credit cards, loyalty programs, and marketing services.
Benzinga said Bread Financial’s most financially significant unit is its credit card business that partners with retailers to jointly market Bread’s cards to their customers. The company also retains a minority interest in its recently spun off LoyaltyOne division, which operates Canada’s largest airline miles loyalty program and provides marketing services to grocery chains in Europe and Asia.
The list also included KeyCorp. Benzinga described KeyCorp as an Ohio-based bank with assets over $150 billion and a footprint across 16 states, with concentration in Ohio and New York, where it serves middle-market commercial clients through a hybrid community and corporate bank model.
Benzinga additionally pointed to Silvergate Capital, describing it as providing financial infrastructure solutions such as the Silvergate Exchange Network, cash management solutions, and deposit account services for U.S. exchanges and digital currency investors. The outlet said the company recently announced its Q3 results and that they were strong enough to attract investors.