Bank of America Trims Bread Financial (NYSE:BFH) Target Price to $57.00

Bread Financial (NYSE:BFH) had its price target cut by Bank of America from $61.00 to $57.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on BFH. TD Cowen boosted their price objective on shares of Bread Financial from $44.00 to $57.00 and gave the stock a hold rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price objective on Bread Financial from $35.00 to $45.00 and gave the company a hold rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their target price on Bread Financial from $48.00 to $59.00 and gave the stock a neutral rating in a research note on Tuesday, August 20th. JMP Securities reiterated a market perform rating on shares of Bread Financial in a research note on Thursday, June 20th. Finally, Barclays raised their price target on Bread Financial from $32.00 to $37.00 and gave the stock an underweight rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Bread Financial presently has a consensus rating of Hold and a consensus price target of $49.71.

Bread Financial Trading Up 0.3 %

Shares of NYSE:BFH opened at $46.75 on Wednesday. The company has a market capitalization of $2.32 billion, a PE ratio of 5.89, a P/E/G ratio of 0.17 and a beta of 1.95. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.41. Bread Financial has a 12-month low of $26.08 and a 12-month high of $59.66. The business’s fifty day simple moving average is $52.13 and its 200-day simple moving average is $44.34.

Bread Financial (NYSE:BFH) last posted its earnings results on Thursday, July 25th. The company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.06. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $922.01 million. Bread Financial had a return on equity of 16.24% and a net margin of 9.77%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 earnings per share. As a group, equities research analysts predict that Bread Financial will post 7.49 earnings per share for the current fiscal year.

Bread Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.80%. Bread Financial’s payout ratio is currently 10.58%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BFH. Headlands Technologies LLC acquired a new position in shares of Bread Financial in the 1st quarter valued at about $33,000. CWM LLC lifted its holdings in Bread Financial by 47.5% in the second quarter. CWM LLC now owns 1,708 shares of the company’s stock valued at $76,000 after acquiring an additional 550 shares during the period. Point72 DIFC Ltd boosted its position in Bread Financial by 30.0% in the 2nd quarter. Point72 DIFC Ltd now owns 1,721 shares of the company’s stock worth $77,000 after purchasing an additional 397 shares in the last quarter. Pinnacle Holdings LLC acquired a new stake in shares of Bread Financial during the 4th quarter worth approximately $83,000. Finally, National Bank of Canada FI increased its holdings in shares of Bread Financial by 70.3% during the 2nd quarter. National Bank of Canada FI now owns 1,938 shares of the company’s stock valued at $88,000 after purchasing an additional 800 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

About Bread Financial

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.