Bread Financial (NYSE:BFH) Sets New 1-Year High After Analyst Upgrade

Shares of Bread Financial Holdings, Inc. (NYSE:BFH) reached a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $48.00 to $59.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Bread Financial traded as high as $55.80 and last traded at $55.41, with a volume of 138538 shares traded. The stock had previously closed at $55.33.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets raised their price objective on Bread Financial from $31.00 to $33.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Barclays upped their price objective on shares of Bread Financial from $32.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, July 26th. The Goldman Sachs Group lifted their target price on shares of Bread Financial from $40.00 to $53.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. JMP Securities reissued a “market perform” rating on shares of Bread Financial in a research report on Thursday, June 20th. Finally, TD Cowen raised their price objective on shares of Bread Financial from $44.00 to $57.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.53.

Institutional Trading of Bread Financial

A number of hedge funds have recently made changes to their positions in BFH. Arizona State Retirement System raised its stake in shares of Bread Financial by 2.1% during the second quarter. Arizona State Retirement System now owns 13,836 shares of the company’s stock worth $617,000 after acquiring an additional 279 shares in the last quarter. Point72 DIFC Ltd grew its holdings in shares of Bread Financial by 30.0% during the 2nd quarter. Point72 DIFC Ltd now owns 1,721 shares of the company’s stock valued at $77,000 after purchasing an additional 397 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Bread Financial by 2.0% in the second 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 last quarter. CWM LLC lifted 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 purchasing an additional 550 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in Bread Financial by 3.3% during the second quarter. Ensign Peak Advisors Inc now owns 18,592 shares of the company’s stock valued at $828,000 after buying an additional 600 shares during the period. 99.52% of the stock is owned by institutional investors.

Bread Financial Stock Down 0.3 %

The stock has a market capitalization of $2.74 billion, a P/E ratio of 6.95, a PEG ratio of 0.18 and a beta of 1.98. The stock has a 50 day moving average price of $47.67 and a 200-day moving average price of $41.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.19 and a quick ratio of 1.18.

Bread Financial (NYSE:BFH) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $1.06. The business 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%. Bread Financial’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $1.27 EPS. As a group, research analysts expect that Bread Financial Holdings, Inc. will post 7.04 EPS for the current fiscal year.

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, August 9th. Bread Financial’s payout ratio is 10.58%.

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.