Bread Financial Holdings, Inc. (NYSE:BFH – Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $99.69 and last traded at $100.7370, with a volume of 408647 shares traded. The stock had previously closed at $96.45.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on BFH shares. Loop Capital began coverage on shares of Bread Financial in a report on Thursday, May 21st. They set a “buy” rating and a $104.00 price target for the company. Evercore reiterated an “outperform” rating and issued a $99.00 price objective on shares of Bread Financial in a research note on Wednesday, April 29th. Royal Bank Of Canada set a $105.00 target price on Bread Financial in a research note on Friday, April 24th. Morgan Stanley set a $98.00 target price on Bread Financial in a report on Friday, April 24th. Finally, BTIG Research lifted their price target on Bread Financial from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.58.
View Our Latest Stock Analysis on BFH
Bread Financial Trading Up 4.7%
Bread Financial (NYSE:BFH – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $1.18. Bread Financial had a return on equity of 18.79% and a net margin of 11.90%.The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $992.05 million. During the same quarter last year, the company earned $2.86 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Bread Financial Holdings, Inc. will post 10.59 earnings per share for the current year.
Bread Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, May 29th. Bread Financial’s dividend payout ratio (DPR) is 7.53%.
Bread Financial announced that its board has authorized a share buyback program on Thursday, February 26th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 19% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at Bread Financial
In other news, Director Roger H. Ballou sold 9,687 shares of the business’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $90.32, for a total value of $874,929.84. Following the sale, the director owned 30,079 shares in the company, valued at approximately $2,716,735.28. The trade was a 24.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John J. Fawcett bought 698 shares of the stock in a transaction dated Thursday, May 21st. The stock was purchased at an average cost of $86.43 per share, for a total transaction of $60,328.14. Following the acquisition, the director owned 11,000 shares in the company, valued at $950,730. The trade was a 6.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.30% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in shares of Bread Financial by 18.1% during the first quarter. Bank of America Corp DE now owns 630,225 shares of the company’s stock worth $47,198,000 after acquiring an additional 96,771 shares during the last quarter. Amundi grew its stake in shares of Bread Financial by 15.5% during the first quarter. Amundi now owns 14,117 shares of the company’s stock worth $1,057,000 after purchasing an additional 1,894 shares during the period. California State Teachers Retirement System lifted its stake in Bread Financial by 23.6% in the first quarter. California State Teachers Retirement System now owns 54,175 shares of the company’s stock valued at $4,057,000 after buying an additional 10,347 shares during the period. Empowered Funds LLC boosted its holdings in Bread Financial by 3.5% during the first quarter. Empowered Funds LLC now owns 193,123 shares of the company’s stock worth $14,463,000 after buying an additional 6,574 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Bread Financial by 66.9% during the 1st quarter. Quantinno Capital Management LP now owns 28,170 shares of the company’s stock worth $2,110,000 after acquiring an additional 11,292 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.
About Bread Financial
Bread Financial, formerly known as Alliance Data Systems, is a Columbus, Ohio–based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners. The company designs, issues and services proprietary credit products, enabling merchants to offer branded financing options that drive customer loyalty and increase basket sizes at the point of sale. Through its Bread technology platform, Bread Financial delivers installment-based payment options that integrate directly into e-commerce and in-store checkout experiences.
In addition to its core credit offerings, Bread Financial provides analytics, marketing and loyalty services to help merchants better understand consumer behavior and optimize promotional strategies.
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