Wedge Capital Management L L P NC cut its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 25.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,543 shares of the company’s stock after selling 5,077 shares during the period. Wedge Capital Management L L P NC’s holdings in Bread Financial were worth $1,576,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Bread Financial by 2.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,842 shares of the company’s stock worth $416,000 after buying an additional 99 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Bread Financial by 5.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,535 shares of the company’s stock valued at $262,000 after acquiring an additional 187 shares during the last quarter. Pacer Advisors Inc. grew its position in Bread Financial by 58.7% during the first quarter. Pacer Advisors Inc. now owns 614 shares of the company’s stock valued at $46,000 after acquiring an additional 227 shares during the last quarter. Vista Investment Management raised its stake in shares of Bread Financial by 1.1% during the fourth quarter. Vista Investment Management now owns 22,858 shares of the company’s stock worth $1,692,000 after acquiring an additional 241 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of Bread Financial by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 4,206 shares of the company’s stock worth $311,000 after acquiring an additional 259 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
BFH has been the subject of a number of research reports. Morgan Stanley set a $107.00 price objective on shares of Bread Financial in a research note on Friday, July 24th. The Goldman Sachs Group boosted 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. Zacks Research lowered shares of Bread Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. UBS Group raised their price objective on Bread Financial from $120.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $119.00 price objective on shares of Bread Financial in a report on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bread Financial currently has an average rating of “Hold” and a consensus price target of $110.58.
Insider Activity at Bread Financial
In other Bread Financial news, CEO Ralph J. Andretta sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $89.10, for a total transaction of $1,336,500.00. Following the completion of the transaction, the chief executive officer owned 582,241 shares of the company’s stock, valued at $51,877,673.10. This represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Praniti Lakhwara sold 2,802 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $106.12, for a total value of $297,348.24. Following the completion of the sale, the director owned 4,458 shares of the company’s stock, valued at approximately $473,082.96. This trade represents a 38.60% decrease in their position. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by company insiders.
Bread Financial Price Performance
Shares of Bread Financial stock opened at $113.22 on Friday. The firm has a market cap of $4.35 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.71 and a beta of 1.11. Bread Financial Holdings, Inc. has a 12-month low of $53.83 and a 12-month high of $114.12. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $103.72 and its two-hundred day simple moving average is $87.90.
Bread Financial (NYSE:BFH – Get Free Report) last released its quarterly earnings data 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 $992.00 million for the quarter, compared to analysts’ expectations of $959.32 million. Bread Financial had a net margin of 11.95% and a return on equity of 18.42%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.15 earnings per share. As a group, equities analysts expect that Bread Financial Holdings, Inc. will post 12.1 EPS for the current year.
Bread Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Bread Financial’s payout ratio is currently 7.18%.
About Bread Financial
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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