Louisiana State Employees Retirement System acquired a new position in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,700 shares of the company's stock, valued at approximately $814,000. Louisiana State Employees Retirement System owned 0.05% of Bread Financial as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in Bread Financial by 25.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,168 shares of the company's stock valued at $108,000 after acquiring an additional 633 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Bread Financial in the third quarter valued at about $116,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Bread Financial in the third quarter valued at about $187,000. Los Angeles Capital Management LLC acquired a new position in shares of Bread Financial during the third quarter worth about $229,000. Finally, First Hawaiian Bank boosted its position in shares of Bread Financial by 17.2% during the fourth quarter. First Hawaiian Bank now owns 8,479 shares of the company's stock worth $279,000 after buying an additional 1,245 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
BFH has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $36.00 price objective on shares of Bread Financial in a research report on Friday, January 26th. Wolfe Research raised Bread Financial from a "peer perform" rating to an "outperform" rating and set a $48.00 price objective for the company in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on Bread Financial from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, January 26th. BMO Capital Markets increased their price target on Bread Financial from $31.00 to $33.00 and gave the company a "market perform" rating in a research report on Friday. Finally, Evercore ISI cut Bread Financial from an "in-line" rating to an "underperform" rating and increased their price target for the company from $29.00 to $33.00 in a research report on Wednesday, January 3rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $36.64.
Read Our Latest Stock Analysis on BFH
Bread Financial Stock Performance
Shares of BFH traded up $0.32 during mid-day trading on Friday, reaching $36.97. The company's stock had a trading volume of 1,000,056 shares, compared to its average volume of 728,710. Bread Financial Holdings, Inc. has a 1-year low of $23.19 and a 1-year high of $41.89. The stock has a market cap of $1.83 billion, a P/E ratio of 4.66, a PEG ratio of 0.14 and a beta of 1.93. The business has a 50-day simple moving average of $36.52 and a two-hundred day simple moving average of $33.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43.
Bread Financial (NYSE:BFH - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $2.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.92 by ($0.19). Bread Financial had a net margin of 8.08% and a return on equity of 14.44%. The business had revenue of $991.00 million during the quarter, compared to analyst estimates of $998.96 million. During the same period in the previous year, the business earned $9.08 earnings per share. The business's quarterly revenue was down 23.1% on a year-over-year basis. As a group, equities research analysts anticipate that Bread Financial Holdings, Inc. will post 6.78 earnings per share for the current fiscal year.
Bread Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.27%. Bread Financial's dividend payout ratio (DPR) is currently 10.58%.
Insider Transactions at Bread Financial
In other news, major shareholder Turtle Creek Asset Management sold 45,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $35.67, for a total transaction of $1,605,150.00. Following the transaction, the insider now owns 293,092 shares in the company, valued at $10,454,591.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.62% of the stock is owned by corporate insiders.
About Bread Financial
(Free Report)
Bread Financial Holdings, Inc provides tech-forward payment and lending solutions to customers and consumer-based industries in North America. It offers credit card and other loans financing services, including risk management solutions, account origination, and funding services for private label and co-brand credit card programs, as well as through Bread partnerships; and Comenity-branded general purpose cash-back credit.
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