Royal Bank of Canada Forecasts Strong Price Appreciation for Bread Financial (NYSE:BFH) Stock

Bread Financial (NYSE:BFH) had its price target raised by stock analysts at Royal Bank of Canada from $62.00 to $68.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 7.54% from the stock’s previous close.

BFH has been the subject of several other research reports. Compass Point lifted their price target on Bread Financial from $75.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their price target on Bread Financial from $67.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group lifted their price target on Bread Financial from $52.00 to $58.00 and gave the company a “sell” rating in a research note on Tuesday, November 19th. Evercore ISI lifted their price target on Bread Financial from $52.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, TD Cowen lifted their price target on Bread Financial from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, October 28th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.69.

Bread Financial Stock Performance

NYSE BFH opened at $63.23 on Friday. The stock has a 50-day simple moving average of $61.93 and a two-hundred day simple moving average of $55.67. The firm has a market capitalization of $3.14 billion, a P/E ratio of 10.07 and a beta of 1.94. Bread Financial has a fifty-two week low of $32.10 and a fifty-two week high of $66.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.19 and a current ratio of 1.19.

Bread Financial (NYSE:BFH) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Bread Financial had a return on equity of 13.33% and a net margin of 6.37%. On average, equities analysts forecast that Bread Financial will post 7.6 earnings per share for the current year.

Institutional Trading of Bread Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BFH. Marshall Wace LLP raised its position in Bread Financial by 372.0% in the second quarter. Marshall Wace LLP now owns 42,948 shares of the company’s stock valued at $1,914,000 after purchasing an additional 33,848 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Bread Financial by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 27,252 shares of the company’s stock worth $1,214,000 after acquiring an additional 1,276 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Bread Financial during the second quarter worth $533,000. Algert Global LLC increased its position in shares of Bread Financial by 12.2% during the second quarter. Algert Global LLC now owns 20,486 shares of the company’s stock worth $913,000 after acquiring an additional 2,226 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Bread Financial during the third quarter worth $363,000. Hedge funds and other 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.