Bread Financial (NYSE:BFH) Reaches New 12-Month High – Here’s What Happened

Bread Financial Holdings, Inc. (NYSE:BFH)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $66.69 and last traded at $66.18, with a volume of 28901 shares trading hands. The stock had previously closed at $66.35.

Wall Street Analyst Weigh In

BFH has been the subject of several research reports. Barclays cut their price objective on Bread Financial from $35.00 to $34.00 and set an “underweight” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group lifted their price target on shares of Bread Financial from $52.00 to $58.00 and gave the stock a “sell” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on shares of Bread Financial from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods lifted their target price on shares of Bread Financial from $67.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Bank of America reduced their price target on Bread Financial from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.54.

Bread Financial Stock Performance

The stock’s 50 day moving average price is $55.98 and its 200 day moving average price is $51.02. The firm has a market cap of $3.25 billion, a PE ratio of 10.39 and a beta of 1.96. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33.

Bread Financial (NYSE:BFH) last announced its earnings results on Thursday, October 24th. The company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.03). The company had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $981.26 million. Bread Financial had a net margin of 6.37% and a return on equity of 13.33%. During the same quarter in the previous year, the business posted $3.46 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Bread Financial Holdings, Inc. will post 7.5 earnings per share for the current fiscal year.

Bread Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Friday, November 8th. Bread Financial’s payout ratio is 13.38%.

Insiders Place Their Bets

In other Bread Financial news, Director John J. Fawcett acquired 1,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were bought at an average cost of $51.02 per share, for a total transaction of $51,020.00. Following the acquisition, the director now directly owns 6,473 shares of the company’s stock, valued at $330,252.46. This trade represents a 18.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is currently owned by company insiders.

Institutional Trading of Bread Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Bread Financial by 33.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,035 shares of the company’s stock worth $49,000 after acquiring an additional 260 shares in the last quarter. CWM LLC boosted its holdings in shares of Bread Financial by 47.5% during 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 grew its position in shares of Bread Financial by 30.0% during the second quarter. Point72 DIFC Ltd now owns 1,721 shares of the company’s stock worth $77,000 after acquiring an additional 397 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Bread Financial by 70.3% in the 2nd quarter. National Bank of Canada FI now owns 1,938 shares of the company’s stock worth $88,000 after acquiring an additional 800 shares during the period. Finally, Headlands Technologies LLC boosted its stake in Bread Financial by 164.0% during the 2nd quarter. Headlands Technologies LLC now owns 2,355 shares of the company’s stock valued at $105,000 after purchasing an additional 1,463 shares during the period. 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.