Sierra Summit Advisors LLC Invests $590,000 in Bread Financial Holdings, Inc. (NYSE:BFH)

Key Points

• Sierra Summit Advisors LLC has acquired **11,791 shares** of Bread Financial Holdings, Inc. (NYSE:BFH), totaling approximately **$590,000** in value.
• The stock of Bread Financial has shown a **1-year high of $66.71** and a **1-year low of $38.21**, holding a current price of **$58.14**.
• The company recently announced a quarterly **dividend of $0.21**, representing an annualized dividend yield of **1.4%**.

Sierra Summit Advisors LLC purchased a new stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,791 shares of the company's stock, valued at approximately $590,000.

Several other hedge funds have also bought and sold shares of the stock. LPL Financial LLC boosted its stake in shares of Bread Financial by 69.6% in the fourth quarter. LPL Financial LLC now owns 39,197 shares of the company's stock worth $2,393,000 after acquiring an additional 16,081 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Bread Financial by 4.3% in the fourth quarter. Alliancebernstein L.P. now owns 64,462 shares of the company's stock worth $3,936,000 after acquiring an additional 2,632 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Bread Financial by 4.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,404 shares of the company's stock worth $574,000 after acquiring an additional 395 shares during the period. Federated Hermes Inc. boosted its stake in shares of Bread Financial by 1.0% in the fourth quarter. Federated Hermes Inc. now owns 30,641 shares of the company's stock worth $1,871,000 after acquiring an additional 305 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in shares of Bread Financial by 11.1% in the fourth quarter. Sterling Capital Management LLC now owns 14,005 shares of the company's stock worth $855,000 after acquiring an additional 1,395 shares during the period. Institutional investors own 99.52% of the company's stock.

Bread Financial Trading Up 0.2%

NYSE:BFH traded up $0.15 during midday trading on Wednesday, hitting $60.60. The stock had a trading volume of 19,829 shares, compared to its average volume of 837,795. Bread Financial Holdings, Inc. has a one year low of $38.21 and a one year high of $66.71. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 0.94 and a beta of 1.42. The stock has a 50-day moving average of $57.92 and a 200 day moving average of $54.17. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.36.

Bread Financial (NYSE:BFH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $3.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $1.29. Bread Financial had a return on equity of 13.10% and a net margin of 6.05%. The company had revenue of $929.00 million for the quarter, compared to analysts' expectations of $944.69 million. During the same quarter in the prior year, the firm earned $2.66 earnings per share. Bread Financial's revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Bread Financial Holdings, Inc. will post 6.45 EPS for the current year.

Bread Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 8th. Bread Financial's dividend payout ratio (DPR) is 14.21%.

Wall Street Analysts Forecast Growth

BFH has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Bread Financial from $36.00 to $39.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Bread Financial from a "strong-buy" rating to a "buy" rating in a research report on Saturday. BTIG Research set a $105.00 target price on Bread Financial and gave the stock a "buy" rating in a research report on Monday, July 14th. Barclays reiterated an "underweight" rating and issued a $52.00 target price (up from $45.00) on shares of Bread Financial in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group boosted their target price on Bread Financial from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $64.42.

Insider Transactions at Bread Financial

In related news, Director John J. Fawcett bought 1,027 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $61.79 per share, with a total value of $63,458.33. Following the transaction, the director owned 10,302 shares of the company's stock, valued at $636,560.58. The trade was a 11.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.62% of the company's stock.

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 private label and co-brand credit card programs, as well as through Bread partnerships; and Comenity-branded general purpose cash-back credit.