Wells Fargo & Company upgraded shares of Bread Financial (NYSE:BFH – Free Report) to a hold rating in a report issued on Friday,Zacks reports.
BFH has been the topic of several other reports. Seaport Research Partners reaffirmed a “buy” rating and issued a $119.00 price target on shares of Bread Financial in a research note on Monday, July 27th. Loop Capital initiated coverage on Bread Financial in a research report on Thursday, May 21st. They set a “buy” rating and a $104.00 price objective for the company. UBS Group boosted their target price on shares of Bread Financial from $120.00 to $127.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bread Financial in a research report on Wednesday, June 10th. Finally, The Goldman Sachs Group increased their price target on shares of Bread Financial from $94.00 to $108.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.29.
Get Our Latest Analysis on Bread Financial
Bread Financial Stock Performance
Bread Financial (NYSE:BFH – Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $3.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.81. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%.The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $959.32 million. During the same quarter in the prior year, the business earned $3.15 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts anticipate that Bread Financial will post 12.1 EPS for the current fiscal year.
Bread Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. Bread Financial’s dividend payout ratio is currently 7.18%.
Insider Buying and Selling at Bread Financial
In other news, Director Praniti Lakhwara sold 2,802 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $106.12, for a total transaction of $297,348.24. Following the completion of the transaction, the director directly owned 4,458 shares in the company, valued at $473,082.96. This trade represents a 38.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.
Institutional Trading of Bread Financial
Institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in Bread Financial by 5,814.5% during the 1st quarter. Fifth Third Bancorp now owns 17,566 shares of the company’s stock valued at $1,315,000 after purchasing an additional 17,269 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Bread Financial by 38,301.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 215,815 shares of the company’s stock worth $15,977,000 after purchasing an additional 215,253 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Bread Financial by 18.1% in the first quarter. Bank of America Corp DE now owns 630,225 shares of the company’s stock worth $47,198,000 after purchasing an additional 96,771 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Bread Financial by 23.6% in the first quarter. California State Teachers Retirement System now owns 54,175 shares of the company’s stock worth $4,057,000 after purchasing an additional 10,347 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of Bread Financial during the second quarter valued at $421,314,000. 99.52% of the stock is currently owned by institutional investors.
About Bread Financial
Bread Financial Corporation (NYSE: BFH) is a financial services company that provides payment, lending and savings solutions for consumers and businesses. Its offerings include private-label and co-branded credit cards, installment loans, buy now, pay later financing and direct-to-consumer savings products.
The company works with retailers and brands to design and manage customized credit programs, including account servicing, underwriting, transaction processing and customer engagement services.
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