State Street Corp Boosts Stake in Bread Financial Holdings, Inc. (NYSE:BFH)

State Street Corp grew its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,034,554 shares of the company’s stock after purchasing an additional 41,012 shares during the quarter. State Street Corp owned approximately 4.09% of Bread Financial worth $96,804,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. CWM LLC raised its stake in Bread Financial by 47.5% in the second quarter. CWM LLC now owns 1,708 shares of the company’s stock worth $76,000 after buying an additional 550 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Bread Financial in the 2nd quarter valued at $201,000. Louisiana State Employees Retirement System grew its position in Bread Financial by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,900 shares of the company’s stock worth $1,110,000 after purchasing an additional 500 shares during the period. Highland Capital Management LLC acquired a new stake in Bread Financial during the second quarter worth about $245,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bread Financial by 25.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,671 shares of the company’s stock valued at $520,000 after purchasing an additional 2,386 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BFH. TD Cowen upped their target price on Bread Financial from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods upped their price target on Bread Financial from $67.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays cut their price objective on shares of 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 target price on Bread Financial from $52.00 to $58.00 and gave the company a “sell” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bread Financial from $48.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.54.

Bread Financial Stock Up 1.6 %

Shares of Bread Financial stock opened at $66.32 on Tuesday. The company has a market capitalization of $3.30 billion, a P/E ratio of 10.56 and a beta of 1.96. The company has a 50 day moving average of $55.98 and a 200 day moving average of $51.16. Bread Financial Holdings, Inc. has a 52-week low of $28.00 and a 52-week high of $66.71. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.33.

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

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 8th were given a $0.21 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.27%. Bread Financial’s dividend payout ratio (DPR) is presently 13.38%.

Insider Activity

In related news, Director John J. Fawcett bought 1,000 shares of the 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 purchase, the director now owns 6,473 shares of the company’s stock, valued at $330,252.46. This trade represents a 18.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.62% 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.