Bread Financial (NYSE:BFH – Get Free Report) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.
A number of other research firms have also recently issued reports on BFH. TD Cowen upped their price objective on shares of Bread Financial from $103.00 to $114.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $115.00 target price on shares of Bread Financial in a research report on Friday, July 24th. BTIG Research boosted their target price on shares of Bread Financial from $105.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Morgan Stanley set a $107.00 price target on shares of Bread Financial in a report on Friday, July 24th. Finally, Wells Fargo & Company initiated coverage on Bread Financial in a research note on Friday, September 11th. They issued an “equal weight” rating and a $115.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.29.
Read Our Latest Research Report on BFH
Bread Financial Price Performance
Bread Financial (NYSE:BFH – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $3.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.81. The firm had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $959.32 million. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.15 earnings per share. On average, sell-side analysts forecast that Bread Financial will post 12.12 EPS for the current fiscal year.
Insider Transactions at Bread Financial
In related news, Director Praniti Lakhwara sold 2,802 shares of Bread Financial stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $106.12, for a total transaction of $297,348.24. Following the sale, the director directly owned 4,458 shares in the company, valued at $473,082.96. This trade represents a 38.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Bread Financial
Several institutional investors and hedge funds have recently added to or reduced their stakes in BFH. BlackRock Inc. acquired a new position in shares of Bread Financial during the second quarter worth $421,314,000. Hsbc Holdings PLC acquired a new stake in Bread Financial in the second quarter valued at $98,764,000. Bank of America Corp DE bought a new position in Bread Financial during the 2nd quarter worth $65,806,000. Empowered Funds LLC acquired a new position in Bread Financial during the 2nd quarter worth about $50,051,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Bread Financial in the 2nd quarter valued at about $39,468,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.
Bread Financial Company Profile
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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