Algert Global LLC Raises Stake in Bread Financial Holdings, Inc. (NYSE:BFH)

Algert Global LLC boosted its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 87.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 38,500 shares of the company’s stock after purchasing an additional 18,014 shares during the period. Algert Global LLC owned approximately 0.08% of Bread Financial worth $1,832,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of BFH. Vanguard Group Inc. grew its position in Bread Financial by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 5,847,645 shares of the company’s stock worth $217,766,000 after purchasing an additional 216,274 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Bread Financial by 9.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 58,539 shares of the company’s stock valued at $2,180,000 after acquiring an additional 4,959 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Bread Financial by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,782 shares of the company’s stock valued at $1,259,000 after acquiring an additional 1,856 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Bread Financial in the first quarter valued at about $1,546,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Bread Financial by 25.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,428 shares of the company’s stock valued at $598,000 after acquiring an additional 2,689 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John J. Fawcett bought 1,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was purchased at an average cost of $51.02 per share, for a total transaction of $51,020.00. Following the completion of the acquisition, the director now owns 6,473 shares in the company, valued at $330,252.46. This trade represents a 18.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BFH. Bank of America lowered their target price on shares of Bread Financial from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on shares of Bread Financial from $48.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. TD Cowen boosted their price objective on shares of Bread Financial from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Barclays decreased their price objective on shares of Bread Financial from $35.00 to $34.00 and set an “underweight” rating on the stock in a report on Friday, October 25th. Finally, The Goldman Sachs Group boosted their price objective 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. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bread Financial currently has an average rating of “Hold” and a consensus price target of $50.00.

Bread Financial Stock Performance

NYSE:BFH opened at $57.95 on Thursday. The firm has a 50 day simple moving average of $52.43 and a 200-day simple moving average of $49.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $2.88 billion, a PE ratio of 9.23 and a beta of 1.94. Bread Financial Holdings, Inc. has a 1-year low of $26.58 and a 1-year high of $63.01.

Bread Financial (NYSE:BFH) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.03). The firm had revenue of $983.00 million during the quarter, compared to analyst estimates of $981.26 million. Bread Financial had a net margin of 6.37% and a return on equity of 13.33%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.46 EPS. On average, equities analysts expect that Bread Financial Holdings, Inc. will post 7.67 EPS for the current year.

Bread Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, November 8th. Bread Financial’s dividend payout ratio is presently 13.38%.

Bread Financial 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.