Jupiter Asset Management Ltd. Reduces Stock Position in Bread Financial Holdings, Inc. $BFH

Jupiter Asset Management Ltd. trimmed its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 41.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 298,010 shares of the company’s stock after selling 208,158 shares during the period. Jupiter Asset Management Ltd.’s holdings in Bread Financial were worth $17,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BFH. Royal Bank of Canada raised its stake in shares of Bread Financial by 39.0% during the 1st quarter. Royal Bank of Canada now owns 217,773 shares of the company’s stock worth $10,905,000 after buying an additional 61,047 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Bread Financial by 15.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,816 shares of the company’s stock valued at $542,000 after acquiring an additional 1,412 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Bread Financial by 2.9% during the 1st quarter. Allianz Asset Management GmbH now owns 488,316 shares of the company’s stock valued at $24,455,000 after acquiring an additional 13,656 shares in the last quarter. Three Seasons Wealth LLC acquired a new position in Bread Financial during the second quarter worth about $491,000. Finally, Sigma Planning Corp lifted its holdings in shares of Bread Financial by 278.0% in the second quarter. Sigma Planning Corp now owns 15,386 shares of the company’s stock valued at $879,000 after purchasing an additional 11,316 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Bread Financial Stock Performance

Shares of NYSE:BFH opened at $64.03 on Thursday. The business’s 50-day simple moving average is $61.21 and its 200 day simple moving average is $58.36. The company has a market cap of $2.92 billion, a P/E ratio of 6.52, a PEG ratio of 0.50 and a beta of 1.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.19. Bread Financial Holdings, Inc. has a one year low of $38.21 and a one year high of $68.01.

Bread Financial (NYSE:BFH) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $4.02 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $1.91. The firm had revenue of $971.00 million for the quarter, compared to analyst estimates of $974.30 million. Bread Financial had a net margin of 10.08% and a return on equity of 15.97%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 EPS. Bread Financial has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 7th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 7th. This is a positive change from Bread Financial’s previous quarterly dividend of $0.21. Bread Financial’s dividend payout ratio is currently 9.37%.

Bread Financial announced that its board has authorized a share repurchase program on Wednesday, August 27th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on BFH shares. Zacks Research upgraded Bread Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Wall Street Zen cut shares of Bread Financial from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. The Goldman Sachs Group lifted their target price on Bread Financial from $60.00 to $68.00 and gave the company a “sell” rating in a report on Friday, October 24th. Morgan Stanley set a $55.00 price target on Bread Financial and gave the company an “underweight” rating in a research report on Friday, October 24th. Finally, Keefe, Bruyette & Woods cut their price objective on Bread Financial from $88.00 to $71.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bread Financial currently has a consensus rating of “Hold” and an average price target of $70.00.

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.