Seven Eight Capital LP Buys New Shares in Bread Financial Holdings, Inc. (NYSE:BFH)

Seven Eight Capital LP purchased a new position in Bread Financial Holdings, Inc. (NYSE:BFH) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 12,410 shares of the company’s stock, valued at approximately $553,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Bread Financial by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 13,836 shares of the company’s stock valued at $617,000 after purchasing an additional 279 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Bread Financial by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,900 shares of the company’s stock valued at $1,110,000 after purchasing an additional 500 shares during the last quarter. CWM LLC boosted its holdings in shares of Bread Financial by 47.5% during the 2nd quarter. CWM LLC now owns 1,708 shares of the company’s stock valued at $76,000 after purchasing an additional 550 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Bread Financial by 2.4% during the 4th quarter. Quadrature Capital Ltd now owns 25,993 shares of the company’s stock valued at $856,000 after purchasing an additional 611 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Bread Financial by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 10,011 shares of the company’s stock valued at $373,000 after purchasing an additional 688 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BFH shares. The Goldman Sachs Group increased their price objective on shares of Bread Financial from $40.00 to $53.00 and gave the company a “sell” rating in a report on Monday, July 29th. Bank of America increased their price target on shares of Bread Financial from $54.00 to $61.00 and gave the company a “buy” rating in a report on Monday, August 19th. TD Cowen increased their price target on shares of Bread Financial from $44.00 to $57.00 and gave the company a “hold” rating in a report on Friday, July 26th. Evercore ISI raised shares of Bread Financial from an “underperform” rating to an “in-line” rating and increased their price target for the company from $42.00 to $45.00 in a report on Thursday, June 20th. Finally, Compass Point increased their price objective on shares of Bread Financial from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Bread Financial presently has an average rating of “Hold” and an average target price of $50.00.

Bread Financial Stock Performance

Shares of NYSE:BFH opened at $52.47 on Friday. The firm has a market cap of $2.60 billion, a PE ratio of 6.61, a price-to-earnings-growth ratio of 0.16 and a beta of 1.95. The firm’s 50 day simple moving average is $52.38 and its 200-day simple moving average is $44.11. Bread Financial Holdings, Inc. has a one year low of $26.08 and a one year high of $59.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.19 and a current ratio of 1.19.

Bread Financial (NYSE:BFH) last issued its earnings results on Thursday, July 25th. The company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 9.77% and a return on equity of 16.24%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. As a group, equities analysts predict that Bread Financial Holdings, Inc. will post 7.49 EPS for the current year.

Bread Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.60%. The ex-dividend date was 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.