Thrivent Financial for Lutherans decreased its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,396 shares of the company’s stock after selling 10,692 shares during the period. Thrivent Financial for Lutherans’ holdings in Bread Financial were worth $2,472,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Bread Financial by 141.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 562 shares of the company’s stock valued at $31,000 after purchasing an additional 329 shares during the period. EverSource Wealth Advisors LLC lifted its position in Bread Financial by 127.2% during the second quarter. EverSource Wealth Advisors LLC now owns 711 shares of the company’s stock valued at $41,000 after purchasing an additional 398 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Bread Financial by 8,300.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 840 shares of the company’s stock valued at $47,000 after purchasing an additional 830 shares during the period. Quarry LP lifted its position in Bread Financial by 1,509.1% during the third quarter. Quarry LP now owns 885 shares of the company’s stock valued at $49,000 after purchasing an additional 830 shares during the period. Finally, First Horizon Corp bought a new position in Bread Financial during the fourth quarter valued at approximately $56,000. Institutional investors own 99.52% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on BFH. Bank of America set a $92.00 price objective on shares of Bread Financial and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Weiss Ratings upgraded shares of Bread Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. TD Cowen increased their price objective on shares of Bread Financial from $80.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of Bread Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada set a $105.00 price objective on shares of Bread Financial in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.25.
Insider Activity at Bread Financial
In other Bread Financial news, Director Roger H. Ballou sold 9,687 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 30,079 shares in the company, valued at approximately $2,716,735.28. This trade represents a 24.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Fawcett purchased 698 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average price of $86.43 per share, for a total transaction of $60,328.14. Following the completion of the transaction, the director directly owned 11,000 shares of the company’s stock, valued at approximately $950,730. This trade represents a 6.78% increase in their position. The SEC filing for this purchase provides additional information. 1.30% of the stock is currently owned by company insiders.
Bread Financial Stock Down 0.1%
BFH opened at $86.54 on Tuesday. 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 Holdings, Inc. has a 1-year low of $49.17 and a 1-year high of $99.13. The company has a market capitalization of $3.50 billion, a PE ratio of 7.09, a PEG ratio of 0.82 and a beta of 1.12. The firm’s 50 day simple moving average is $81.42 and its two-hundred day simple moving average is $75.31.
Bread Financial (NYSE:BFH – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.18 earnings per share for the quarter, topping the consensus estimate of $3.00 by $1.18. Bread Financial had a net margin of 11.90% and a return on equity of 18.79%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $992.05 million. During the same period last year, the firm earned $2.86 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Bread Financial Holdings, Inc. will post 10.59 EPS for the current year.
Bread Financial Announces Dividend
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 given a $0.23 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.92 annualized dividend and a yield of 1.1%. Bread Financial’s dividend payout ratio (DPR) is presently 7.53%.
Bread Financial announced that its Board of Directors has approved a stock buyback plan on Thursday, February 26th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 19% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Bread Financial 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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