Bank of Montreal Can Cuts Stock Position in Bread Financial Holdings, Inc. (NYSE:BFH)

Bank of Montreal Can cut its stake in Bread Financial Holdings, Inc. (NYSE:BFH) by 79.4% in the third quarter, Holdings Channel reports. The firm owned 262,881 shares of the company’s stock after selling 1,011,062 shares during the period. Bank of Montreal Can’s holdings in Bread Financial were worth $12,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Bread Financial by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,173,009 shares of the company’s stock worth $141,386,000 after purchasing an additional 70,092 shares during the last quarter. Millennium Management LLC grew its stake in Bread Financial by 81.6% in the 2nd quarter. Millennium Management LLC now owns 1,464,195 shares of the company’s stock valued at $65,245,000 after acquiring an additional 657,968 shares during the period. Victory Capital Management Inc. increased its holdings in Bread Financial by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,249,669 shares of the company’s stock worth $55,685,000 after acquiring an additional 71,777 shares in the last quarter. American Century Companies Inc. raised its position in Bread Financial by 22.4% during the second quarter. American Century Companies Inc. now owns 1,161,443 shares of the company’s stock worth $51,754,000 after acquiring an additional 212,276 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Bread Financial by 38.2% during the third quarter. Pzena Investment Management LLC now owns 880,827 shares of the company’s stock valued at $41,910,000 after purchasing an additional 243,419 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Bread Financial Stock Up 1.5 %

BFH stock opened at $58.83 on Monday. The firm has a market cap of $2.93 billion, a PE ratio of 9.37 and a beta of 1.94. Bread Financial Holdings, Inc. has a one year low of $27.44 and a one year high of $63.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.19 and a current ratio of 1.19. The firm’s 50 day moving average price is $52.77 and its 200-day moving average price is $49.62.

Bread Financial (NYSE:BFH) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.03). The business 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 revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company earned $3.46 EPS. On average, equities research analysts anticipate that Bread Financial Holdings, Inc. will post 7.49 EPS for the current year.

Bread Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, November 8th. Bread Financial’s dividend payout ratio (DPR) is 13.38%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America reduced their price target on shares of Bread Financial from $61.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on Bread Financial from $48.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group boosted their price target on Bread Financial from $52.00 to $58.00 and gave the stock a “sell” rating in a research report on Tuesday, November 19th. Evercore ISI raised their price objective on Bread Financial from $52.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, TD Cowen upped their target price 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. 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. According to data from MarketBeat.com, Bread Financial currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Insider Transactions at Bread Financial

In other news, Director John J. Fawcett bought 1,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was bought at an average cost of $51.02 per share, with a total value of $51,020.00. Following the transaction, the director now directly owns 6,473 shares in the company, valued at $330,252.46. The trade was a 18.27 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.