Bread Financial (NYSE:BFH) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Bread Financial to “Hold” from “Buy,” while Zacks Research also lowered its rating to “Hold.” Analysts’ consensus rating is “Hold,” with an average price target of $112.29.
• Bread Financial reported quarterly EPS of $3.55, beating the $2.74 consensus estimate, while revenue rose 6.9% year over year to $993 million.
• Institutional investors own 99.52% of the stock, with BlackRock and several other major firms establishing new positions; meanwhile, a company director sold 2,802 shares.

Bread Financial (NYSE:BFH - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other analysts have also issued reports on BFH. Zacks Research lowered shares of Bread Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Wells Fargo & Company began coverage on shares of Bread Financial in a research note on Friday, September 11th. They set an "equal weight" rating and a $115.00 target price for the company. UBS Group increased their target price on shares of Bread Financial from $120.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. The Goldman Sachs Group lifted their price target on shares of Bread Financial from $94.00 to $108.00 and gave the company a "neutral" rating in a research report on Tuesday, July 7th. Finally, Seaport Research Partners reissued a "buy" rating and issued a $121.00 price target on shares of Bread Financial in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $112.29.

Bread Financial Trading Up 0.1%

Shares of Bread Financial stock opened at $100.79 on Friday. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.79 and a beta of 1.15. Bread Financial has a fifty-two week low of $53.83 and a fifty-two week high of $114.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day moving average of $105.96 and a 200 day moving average of $96.68.

Bread Financial (NYSE:BFH - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $3.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.81. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%. The company had revenue of $993.00 million during the quarter, compared to analysts' expectations of $959.32 million. During the same quarter last year, the firm earned $3.15 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Bread Financial will post 12.12 earnings per share for the current year.

Insider Buying and Selling

In other Bread Financial news, Director Praniti Lakhwara sold 2,802 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $106.12, for a total value of $297,348.24. Following the completion of the transaction, the director owned 4,458 shares in the company, valued at $473,082.96. The trade was a 38.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Bread Financial

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Bread Financial in the second quarter valued at approximately $421,314,000. Hsbc Holdings PLC acquired a new position in Bread Financial during the 2nd quarter worth approximately $98,764,000. Bank of America Corp DE purchased a new stake in shares of Bread Financial in the 2nd quarter valued at approximately $65,806,000. Empowered Funds LLC purchased a new stake in shares of Bread Financial in the 2nd quarter valued at approximately $50,051,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Bread Financial in the 2nd quarter valued at $39,468,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

About Bread Financial

Bread Financial Corporation NYSE: BFH is a financial services company that provides payment, lending and savings solutions to consumers and businesses. The company works with merchants and brands to offer private-label and co-branded credit cards, installment loans, buy now, pay later services and other financing options at the point of sale.

Its consumer products and services include Bread Pay payment solutions, credit card programs issued through its banking subsidiaries, and Bread Savings deposit products.

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