TD Cowen Forecasts Strong Price Appreciation for Bread Financial (NYSE:BFH) Stock

Bread Financial (NYSE:BFH) had its price target hoisted by TD Cowen from $48.00 to $50.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other analysts have also recently commented on BFH. Royal Bank of Canada raised their target price on Bread Financial from $47.00 to $58.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Bank of America dropped their price target on shares of Bread Financial from $61.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Jefferies Financial Group increased their price objective on shares of Bread Financial from $35.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Evercore ISI dropped their price objective on Bread Financial from $59.00 to $52.00 and set an “in-line” rating on the stock in a research note on Monday, October 7th. Finally, The Goldman Sachs Group raised their target price on Bread Financial from $40.00 to $53.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.64.

Bread Financial Trading Down 2.2 %

NYSE:BFH opened at $49.85 on Monday. The firm has a market capitalization of $2.48 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.17 and a beta of 1.94. The business has a 50 day simple moving average of $51.40 and a 200 day simple moving average of $46.56. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.19 and a quick ratio of 1.19. Bread Financial has a 12-month low of $26.08 and a 12-month high of $59.66.

Bread Financial (NYSE:BFH) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.03). Bread Financial had a net margin of 9.77% and a return on equity of 16.24%. The firm had revenue of $983.00 million for the quarter, compared to analyst estimates of $981.26 million. During the same period last year, the firm posted $3.46 EPS. The business’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts predict that Bread Financial will post 7.44 EPS for the current year.

Bread Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, November 8th. Bread Financial’s payout ratio is 13.38%.

Insiders Place Their Bets

In related news, Director John J. Fawcett purchased 1,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were acquired at an average cost of $51.02 per share, with a total value of $51,020.00. Following the completion of the purchase, the director now owns 6,473 shares of the company’s stock, valued at $330,252.46. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Bread Financial

Several large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC acquired a new stake in shares of Bread Financial in the 1st quarter valued at $631,000. GSA Capital Partners LLP bought a new position in shares of Bread Financial in the 1st quarter valued at approximately $623,000. Public Employees Retirement System of Ohio acquired a new stake in Bread Financial in the 1st quarter worth approximately $1,546,000. UniSuper Management Pty Ltd bought a new stake in Bread Financial during the first quarter worth approximately $383,000. Finally, Sei Investments Co. grew its holdings in Bread Financial by 58.5% during the first quarter. Sei Investments Co. now owns 84,317 shares of the company’s stock valued at $3,140,000 after purchasing an additional 31,122 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

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.