Handelsbanken Fonder AB acquired a new position in Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,000 shares of the company’s stock, valued at approximately $252,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. bought a new stake in Bread Financial in the 3rd quarter worth about $84,000. Allspring Global Investments Holdings LLC bought a new stake in Bread Financial in the 3rd quarter worth about $174,000. State of Alaska Department of Revenue bought a new stake in Bread Financial in the 3rd quarter worth about $224,000. Xponance Inc. purchased a new position in Bread Financial in the third quarter worth about $244,000. Finally, New Mexico Educational Retirement Board purchased a new position in Bread Financial in the third quarter worth about $245,000. Institutional investors own 96.62% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Bread Financial from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, October 28th. TheStreet raised Bread Financial from a “d+” rating to a “c-” rating in a research report on Thursday, October 27th. Stephens raised Bread Financial from an “equal weight” rating to an “overweight” rating and set a $64.00 price objective on the stock in a research report on Thursday, January 5th. Royal Bank of Canada lifted their price objective on Bread Financial from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, October 28th. Finally, Morgan Stanley decreased their target price on Bread Financial from $45.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bread Financial currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.
Bread Financial Stock Performance
Bread Financial (NYSE:BFH – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The company reported $2.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.69. Bread Financial had a return on equity of 18.52% and a net margin of 9.43%. The business had revenue of $979.00 million for the quarter, compared to the consensus estimate of $976.21 million. During the same quarter in the previous year, the company posted $4.47 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that Bread Financial Holdings, Inc. will post 3.46 earnings per share for the current fiscal year.
Bread Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Monday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Thursday, November 10th. Bread Financial’s dividend payout ratio is currently 11.23%.
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 approximately 130 private label and co-brand credit card programs, as well as through Bread partnerships to approximately 500 small-and medium-sized businesses merchants; and Comenity-branded general purpose cash-back credit.
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