Turtle Creek Asset Management Buys 5,850 Shares of Bread Financial Holdings, Inc. (NYSE:BFH) Stock

Posted by Defense World Staff on May 21st, 2023

Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) major shareholder Turtle Creek Asset Management acquired 5,850 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were bought at an average price of $29.74 per share, for a total transaction of $173,979.00. Following the purchase, the insider now owns 4,942,624 shares in the company, valued at $146,993,637.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Turtle Creek Asset Management also recently made the following trade(s):

On Wednesday, May 17th, Turtle Creek Asset Management acquired 103,950 shares of Bread Financial stock. The shares were bought at an average price of $29.69 per share, for a total transaction of $3,086,275.50.
On Monday, May 15th, Turtle Creek Asset Management acquired 113,973 shares of Bread Financial stock. The shares were bought at an average price of $27.91 per share, for a total transaction of $3,180,986.43.
On Friday, May 12th, Turtle Creek Asset Management acquired 71,027 shares of Bread Financial stock. The shares were bought at an average price of $26.53 per share, for a total transaction of $1,884,346.31.
On Wednesday, May 10th, Turtle Creek Asset Management purchased 75,000 shares of Bread Financial stock. The stock was acquired at an average price of $26.07 per share, for a total transaction of $1,955,250.00.
On Monday, May 8th, Turtle Creek Asset Management purchased 150,000 shares of Bread Financial stock. The stock was acquired at an average price of $25.17 per share, for a total transaction of $3,775,500.00.
On Thursday, May 4th, Turtle Creek Asset Management purchased 33,711 shares of Bread Financial stock. The stock was acquired at an average price of $23.72 per share, for a total transaction of $799,624.92.

Bread Financial Stock Performance

Shares of NYSE BFH opened at $30.04 on Friday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 3.22, a P/E/G ratio of 0.08 and a beta of 1.92. Bread Financial Holdings, Inc. has a one year low of $23.19 and a one year high of $55.87. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 1.20. The stock’s fifty day moving average price is $28.15 and its two-hundred day moving average price is $35.25.

Bread Financial (NYSE:BFH – Get Rating) last released its earnings results on Thursday, April 27th. The company reported $9.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $1.97. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.06 billion. Bread Financial had a return on equity of 19.35% and a net margin of 9.66%. Bread Financial’s quarterly revenue was up 40.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.21 EPS. On average, equities analysts forecast that Bread Financial Holdings, Inc. will post 11.68 EPS for the current year.

Bread Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 12th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.84 annualized dividend and a dividend yield of 2.80%. Bread Financial’s dividend payout ratio is currently 8.99%.

Wall Street Analysts Forecast Growth

BFH has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on Bread Financial from $39.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods cut Bread Financial from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $35.00 to $30.00 in a research note on Tuesday, April 11th. Stephens reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of Bread Financial in a report on Friday, March 10th. Finally, The Goldman Sachs Group decreased their price objective on Bread Financial from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, April 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $44.88.

Institutional Trading of Bread Financial

Several institutional investors and hedge funds have recently modified their holdings of BFH. Truist Financial Corp bought a new position in Bread Financial in the third quarter valued at about $349,000. Allspring Global Investments Holdings LLC acquired a new stake in Bread Financial in the third quarter valued at approximately $174,000. US Bancorp DE purchased a new position in shares of Bread Financial during the third quarter valued at approximately $174,000. Comerica Bank purchased a new position in shares of Bread Financial during the third quarter valued at approximately $713,000. Finally, New York State Teachers Retirement System purchased a new position in shares of Bread Financial during the third quarter valued at approximately $1,873,000. 96.62% of the stock is currently owned by institutional investors.

Bread Financial Company Profile

(Get Rating)

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.