Pzena Investment Management LLC lowered its position in Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 18.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 266,929 shares of the company’s stock after selling 60,519 shares during the period. Pzena Investment Management LLC’s holdings in Bread Financial were worth $26,092,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of BFH. BlackRock Inc. purchased a new stake in shares of Bread Financial during the 2nd quarter worth about $421,314,000. Hsbc Holdings PLC purchased a new position in shares of Bread Financial in the 2nd quarter valued at about $98,764,000. Bank of America Corp DE purchased a new position in shares of Bread Financial in the 2nd quarter valued at about $65,806,000. Copeland Capital Management LLC purchased a new position in shares of Bread Financial in the 3rd quarter valued at about $55,054,000. Finally, Empowered Funds LLC acquired a new position in Bread Financial in the 2nd quarter worth about $50,051,000. 99.52% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BFH has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $115.00 price target on shares of Bread Financial in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Bread Financial in a report on Thursday, October 22nd. UBS Group cut their price objective on Bread Financial from $127.00 to $120.00 and set a “buy” rating for the company in a research report on Monday. Wall Street Zen upgraded Bread Financial from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Finally, Seaport Research Partners set a $123.00 target price on Bread Financial in a research note on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $111.71.
Read Our Latest Stock Report on BFH
Insider Transactions at Bread Financial
In other news, Director John Fawcett acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were bought at an average cost of $24.70 per share, for a total transaction of $123,500.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $123,500. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.
Bread Financial Stock Down 1.9%
Shares of NYSE BFH opened at $102.83 on Friday. The company’s 50-day simple moving average is $103.69 and its 200-day simple moving average is $92.30. Bread Financial Holdings, Inc. has a 52-week low of $59.26 and a 52-week high of $114.53. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 0.80 and a beta of 1.26. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.24.
Bread Financial (NYSE:BFH – Get Free Report) last released its earnings results on Thursday, October 22nd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.50. Bread Financial had a net margin of 11.19% and a return on equity of 17.24%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $4.02 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Bread Financial Holdings, Inc. will post 12.51 EPS for the current fiscal year.
Bread Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, November 30th. This is a positive change from Bread Financial’s previous quarterly dividend of $0.23. Bread Financial’s payout ratio is presently 7.89%.
Bread Financial Profile
Bread Financial Holdings, Inc (NYSE: BFH) is a financial services company that provides payment, lending and savings solutions to consumers and businesses. Its offerings include private-label and co-branded credit cards, installment lending, buy now, pay later services and deposit products.
The company operates through its Bread platform, which supports merchants with financing options, payment processing and customer loyalty solutions. Its consumer products have included Bread Cashback credit cards, Bread Pay installment payment services and Bread Savings deposit accounts.
Bread Financial primarily serves consumers and merchants in the United States, with solutions designed for retail, travel, home improvement and other industries.
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