JPMorgan Chase & Co. Raises Bread Financial (NYSE:BFH) Price Target to $45.00

Bread Financial (NYSE:BFH) had its price target upped by JPMorgan Chase & Co. from $39.00 to $45.00 in a research note issued to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other brokerages have also recently commented on BFH. JMP Securities reissued a market perform rating on shares of Bread Financial in a research note on Thursday, June 20th. Wolfe Research raised shares of Bread Financial from a peer perform rating to an outperform rating and set a $48.00 price objective for the company in a research note on Thursday, April 4th. Barclays lifted their price objective on shares of Bread Financial from $26.00 to $32.00 and gave the stock an underweight rating in a research note on Tuesday, July 9th. Royal Bank of Canada lifted their price objective on shares of Bread Financial from $38.00 to $45.00 and gave the stock a sector perform rating in a research note on Thursday, June 20th. Finally, Argus cut shares of Bread Financial from a buy rating to a hold rating in a research note on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $42.93.

Bread Financial Stock Performance

BFH opened at $52.32 on Tuesday. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 0.24 and a beta of 1.98. The company has a fifty day moving average of $44.13 and a 200 day moving average of $38.97. Bread Financial has a fifty-two week low of $26.08 and a fifty-two week high of $52.93. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18.

Bread Financial (NYSE:BFH) last posted its earnings results on Thursday, April 25th. The company reported $2.73 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($0.19). The company had revenue of $991.00 million for the quarter, compared to analysts’ expectations of $998.96 million. Bread Financial had a net margin of 8.08% and a return on equity of 14.44%. The business’s revenue was down 23.1% on a year-over-year basis. During the same period in the previous year, the business posted $9.08 earnings per share. As a group, sell-side analysts forecast that Bread Financial will post 5.59 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, August 9th. This represents a $0.84 dividend on an annualized basis and a yield of 1.61%. Bread Financial’s payout ratio is 10.58%.

Institutional Investors Weigh In On Bread Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC lifted its holdings in Bread Financial by 46.8% during the 4th quarter. Denali Advisors LLC now owns 153,402 shares of the company’s stock valued at $5,053,000 after buying an additional 48,900 shares in the last quarter. Pzena Investment Management LLC raised its holdings in shares of Bread Financial by 14.0% in the 4th quarter. Pzena Investment Management LLC now owns 807,557 shares of the company’s stock valued at $26,601,000 after purchasing an additional 99,029 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Bread Financial in the 1st quarter valued at about $631,000. Bridgeway Capital Management LLC raised its holdings in shares of Bread Financial by 10.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 528,003 shares of the company’s stock valued at $17,392,000 after purchasing an additional 50,474 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Bread Financial in the 1st quarter valued at about $623,000. Institutional investors own 99.52% of the company’s stock.

Bread Financial Company Profile

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.