TD Cowen Cuts Bread Financial (NYSE:BFH) Price Target to $111.00

Key Points

• TD Cowen lowered Bread Financial’s price target to $111 from $114 while maintaining a “hold” rating, implying 13.5% upside from the prior close.
• Bread Financial reported stronger-than-expected quarterly results, with EPS of $3.55 versus the $2.74 consensus and revenue of $993 million, up 6.9% year over year.
• Analyst sentiment remains positive overall, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $112.29; institutional investors own 99.52% of shares.

Bread Financial (NYSE:BFH - Get Free Report) had its price objective reduced by equities researchers at TD Cowen from $114.00 to $111.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "hold" rating on the stock. TD Cowen's price target would indicate a potential upside of 13.50% from the stock's previous close.

BFH has been the subject of several other research reports. The Goldman Sachs Group lifted their price objective on shares of Bread Financial from $94.00 to $108.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Zacks Research raised shares of Bread Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 31st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Bread Financial in a research report on Wednesday, June 10th. BTIG Research upped their price target on Bread Financial from $105.00 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Finally, Wolfe Research raised Bread Financial from a "peer perform" rating to an "outperform" rating and set a $130.00 price objective on the stock in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.29.

Bread Financial Stock Down 1.1%

Shares of NYSE BFH traded down $1.10 during trading hours on Tuesday, hitting $97.80. The stock had a trading volume of 43,034 shares, compared to its average volume of 696,497. The firm's 50-day moving average price is $106.69 and its two-hundred day moving average price is $96.11. Bread Financial has a 52 week low of $53.83 and a 52 week high of $114.53. The company has a market capitalization of $3.76 billion, a P/E ratio of 7.64, a P/E/G ratio of 0.61 and a beta of 1.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.17.

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, beating analysts' consensus estimates of $2.74 by $0.81. The firm had revenue of $993.00 million during the quarter, compared to analysts' expectations of $959.32 million. Bread Financial had a net margin of 11.95% and a return on equity of 18.42%. The company's revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.15 earnings per share. Analysts anticipate that Bread Financial will post 12.22 EPS for the current fiscal year.

Insiders Place Their Bets

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 transaction of $297,348.24. Following the completion of the transaction, the director owned 4,458 shares of the company's stock, valued at $473,082.96. The trade was a 38.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bread Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Argent Capital Management LLC increased its stake in shares of Bread Financial by 3.8% in the third quarter. Argent Capital Management LLC now owns 12,801 shares of the company's stock worth $1,251,000 after purchasing an additional 465 shares during the period. QRG Capital Management Inc. boosted its stake in Bread Financial by 10.1% during the 2nd quarter. QRG Capital Management Inc. now owns 4,127 shares of the company's stock valued at $447,000 after purchasing an additional 380 shares during the period. Engineers Gate Manager LP grew its holdings in Bread Financial by 238.9% in the 2nd quarter. Engineers Gate Manager LP now owns 25,470 shares of the company's stock valued at $2,760,000 after buying an additional 17,955 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Bread Financial in the 2nd quarter valued at approximately $128,000. Finally, IFP Advisors Inc increased its position in Bread Financial by 125.8% in the 2nd quarter. IFP Advisors Inc now owns 490 shares of the company's stock worth $53,000 after buying an additional 273 shares during the period. 99.52% of the stock is 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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