Thrivent Financial for Lutherans trimmed its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,885 shares of the company’s stock after selling 6,966 shares during the period. Thrivent Financial for Lutherans owned approximately 0.11% of Bread Financial worth $2,105,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc purchased a new position in shares of Bread Financial during the third quarter valued at approximately $116,000. Ellevest Inc. grew its position in Bread Financial by 61.0% during the fourth quarter. Ellevest Inc. now owns 702 shares of the company’s stock valued at $26,000 after buying an additional 266 shares during the period. Ronald Blue Trust Inc. grew its position in Bread Financial by 63.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 848 shares of the company’s stock valued at $27,000 after buying an additional 328 shares during the period. Macquarie Group Ltd. bought a new stake in Bread Financial during the third quarter valued at approximately $44,000. Finally, Nomura Asset Management Co. Ltd. bought a new stake in Bread Financial during the third quarter valued at approximately $29,000. 96.62% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Bread Financial
In related news, major shareholder Turtle Creek Asset Management bought 113,973 shares of the stock in a transaction dated Monday, May 15th. The shares were purchased at an average price of $27.91 per share, with a total value of $3,180,986.43. Following the completion of the acquisition, the insider now owns 4,818,842 shares of the company’s stock, valued at $134,493,880.22. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have purchased 443,711 shares of company stock valued at $11,595,708. 0.34% of the stock is currently owned by corporate insiders.
Bread Financial Stock Performance
Bread Financial (NYSE:BFH – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The company reported $9.08 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $1.97. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.06 billion. Bread Financial had a net margin of 9.66% and a return on equity of 19.35%. The company’s revenue was up 40.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.21 earnings per share. Equities analysts forecast that Bread Financial Holdings, Inc. will post 11.38 earnings per share for the current fiscal year.
Bread Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, May 12th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Thursday, May 11th. Bread Financial’s dividend payout ratio (DPR) is presently 8.99%.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Bread Financial from $42.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, April 5th. Keefe, Bruyette & Woods lowered shares of Bread Financial from an “outperform” rating to a “market perform” rating and cut their target price for the company from $35.00 to $30.00 in a research report on Tuesday, April 11th. Morgan Stanley cut their target price on shares of Bread Financial from $39.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 5th. Finally, Stephens restated an “overweight” rating and set a $64.00 target price on shares of Bread Financial in a research report on Friday, March 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Bread Financial currently has an average rating of “Hold” and an average price target of $44.88.
About Bread Financial
Bread Financial Holdings, Inc engages in the provision of payment, lending, and saving solutions. The firm also offers private label and co-brand credit cards and buy now, pay later products such as installment loans and split-pay offerings. The company was founded in 1996 and is headquartered in Columbus, OH.
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