Mizuho Markets Americas LLC cut its position in Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 27.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,175 shares of the company’s stock after selling 101,270 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Bread Financial were worth $19,409,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of BFH. Bank of America Corp DE grew its stake in shares of Bread Financial by 241.1% in the second quarter. Bank of America Corp DE now owns 537,656 shares of the company’s stock valued at $30,711,000 after buying an additional 380,039 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Bread Financial by 104.8% in the first quarter. Goldman Sachs Group Inc. now owns 736,604 shares of the company’s stock valued at $36,889,000 after buying an additional 376,920 shares in the last quarter. UBS Group AG grew its stake in shares of Bread Financial by 100.4% in the fourth quarter. UBS Group AG now owns 716,725 shares of the company’s stock valued at $53,059,000 after buying an additional 359,088 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Bread Financial by 44.5% in the third quarter. Allianz Asset Management GmbH now owns 943,659 shares of the company’s stock valued at $52,628,000 after buying an additional 290,803 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Bread Financial in the third quarter valued at $14,090,000. 99.52% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on BFH. Bank of America set a $92.00 price objective on Bread Financial and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Weiss Ratings raised Bread Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. TD Cowen lifted their price objective on Bread Financial from $80.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 24th. Keefe, Bruyette & Woods lifted their price objective on Bread Financial from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Morgan Stanley set a $98.00 price objective on Bread Financial in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $94.25.
Bread Financial Trading Up 0.9%
NYSE:BFH opened at $86.54 on Friday. The firm has a market cap of $3.50 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.81 and a beta of 1.12. The stock has a fifty day moving average price of $81.12 and a 200 day moving average price of $75.06. Bread Financial Holdings, Inc. has a 12-month low of $49.17 and a 12-month high of $99.13. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.25.
Bread Financial (NYSE:BFH – Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $1.18. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $992.05 million. Bread Financial had a return on equity of 18.79% and a net margin of 11.90%.Bread Financial’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $2.86 earnings per share. Sell-side analysts anticipate that Bread Financial Holdings, Inc. will post 10.59 earnings per share for the current fiscal year.
Bread Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Bread Financial’s payout ratio is 7.53%.
Bread Financial announced that its Board of Directors has initiated a share buyback program on Thursday, February 26th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the company to purchase up to 19% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Insider Transactions at Bread Financial
In other Bread Financial news, Director Roger H. Ballou sold 9,687 shares of Bread Financial stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $90.32, for a total transaction of $874,929.84. Following the completion of the sale, the director directly owned 30,079 shares of the company’s stock, valued at $2,716,735.28. The trade was a 24.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Fawcett purchased 698 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were acquired at an average cost of $86.43 per share, with a total value of $60,328.14. Following the completion of the acquisition, the director directly owned 11,000 shares in the company, valued at $950,730. The trade was a 6.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.30% of the stock is owned by insiders.
Bread Financial Company Profile
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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