Retirement Systems of Alabama purchased a new stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 65,259 shares of the company's stock, valued at approximately $2,052,000. Retirement Systems of Alabama owned approximately 0.13% of Bread Financial as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Check Capital Management Inc. CA purchased a new stake in Bread Financial during the third quarter valued at $11,990,000. Victory Capital Management Inc. purchased a new stake in Bread Financial during the third quarter valued at $8,666,000. Thompson Investment Management Inc. purchased a new stake in Bread Financial during the third quarter valued at $6,391,000. Prudential Financial Inc. purchased a new stake in Bread Financial during the third quarter valued at $3,589,000. Finally, Courant Investment Management LLC purchased a new stake in Bread Financial during the third quarter valued at $2,267,000. Hedge funds and other institutional investors own 96.62% of the company's stock.
Get Bread Financial alerts:Bread Financial Trading Up 15.4 %
NYSE BFH opened at $43.94 on Friday. The company's 50-day moving average price is $38.86 and its 200-day moving average price is $37.91. The company has a current ratio of 1.14, a quick ratio of 1.19 and a debt-to-equity ratio of 1.41. The stock has a market cap of $2.19 billion, a PE ratio of 9.85, a PEG ratio of 0.22 and a beta of 1.98. Bread Financial Holdings, Inc. has a 12 month low of $28.85 and a 12 month high of $74.80.
Bread Financial (NYSE:BFH – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The company reported ($2.68) EPS for the quarter, topping analysts' consensus estimates of ($3.67) by $0.99. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.01 billion. Bread Financial had a net margin of 5.13% and a return on equity of 9.69%. The business's revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. Equities research analysts forecast that Bread Financial Holdings, Inc. will post 10.35 earnings per share for the current year.Bread Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, February 10th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, February 9th. Bread Financial's payout ratio is presently 18.83%.
Analyst Ratings Changes
A number of research firms recently issued reports on BFH. Royal Bank of Canada upped their price target on shares of Bread Financial from $41.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, October 28th. Stephens raised shares of Bread Financial from an "equal weight" rating to an "overweight" rating and set a $64.00 target price on the stock in a research note on Thursday, January 5th. TheStreet raised shares of Bread Financial from a "d+" rating to a "c-" rating in a research note on Thursday, October 27th. The Goldman Sachs Group increased their target price on shares of Bread Financial from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Friday, October 28th. Finally, Credit Suisse Group increased their target price on shares of Bread Financial from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, October 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Bread Financial has an average rating of "Moderate Buy" and a consensus price target of $53.00.
About Bread Financial
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Bread Financial Holdings, Inc engages in the provision of data-driven and transaction-based marketing, customer loyalty and payment solutions. Its products and services include credit cards, loan financing, processing, and servicing, marketing, data and analytics, and digital offerings. The company was founded in 1996 and is headquartered in Columbus, OH.
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