Algert Global LLC Decreases Stock Position in Bread Financial Holdings, Inc. $BFH

Key Points

• Algert Global LLC cut its Bread Financial stake by 69.4% in the second quarter, selling 28,290 shares and retaining 12,455 shares valued at approximately $1.35 million. Institutional investors and hedge funds collectively own 99.52% of BFH.
• Bread Financial reported stronger-than-expected quarterly results, with EPS of $3.55 versus the $2.74 consensus estimate and revenue of $993 million, up 6.9% year over year.
• The company declared a quarterly dividend of $0.23 per share, while analysts maintain a consensus “Hold” rating and an average price target of $112.08; one company director also sold 2,802 shares at an average price of $106.12.

Algert Global LLC lessened its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 69.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,455 shares of the company's stock after selling 28,290 shares during the period. Algert Global LLC's holdings in Bread Financial were worth $1,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of BFH. Fifth Third Bancorp raised its position in Bread Financial by 5,814.5% in the first quarter. Fifth Third Bancorp now owns 17,566 shares of the company's stock valued at $1,315,000 after purchasing an additional 17,269 shares during the period. UBS Group AG lifted its position in shares of Bread Financial by 100.4% during the 4th quarter. UBS Group AG now owns 716,725 shares of the company's stock worth $53,059,000 after buying an additional 359,088 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Bread Financial by 38,301.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 215,815 shares of the company's stock worth $15,977,000 after purchasing an additional 215,253 shares during the last quarter. Bank of America Corp DE increased its position in Bread Financial by 18.1% during the first quarter. Bank of America Corp DE now owns 630,225 shares of the company's stock worth $47,198,000 after buying an additional 96,771 shares during the period. Finally, Intech Investment Management LLC increased its holdings in shares of Bread Financial by 240.1% in the 4th quarter. Intech Investment Management LLC now owns 156,689 shares of the company's stock valued at $11,600,000 after acquiring an additional 110,616 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Praniti Lakhwara sold 2,802 shares of Bread Financial stock in a transaction dated 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 sale, the director directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Bread Financial Stock Down 2.1%

Bread Financial stock opened at $105.75 on Friday. Bread Financial Holdings, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $114.53. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.67 and a beta of 1.11. The stock's fifty day moving average is $105.31 and its two-hundred day moving average is $90.28. 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 released its quarterly earnings data on Thursday, July 23rd. The company reported $3.55 EPS for the quarter, topping the consensus estimate of $2.74 by $0.81. Bread Financial had a net margin of 11.95% and a return on equity of 18.42%. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $959.32 million. During the same period in the previous year, the firm earned $3.15 EPS. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts predict that Bread Financial Holdings, Inc. will post 12.1 EPS for the current fiscal year.

Bread Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, August 31st. Bread Financial's dividend payout ratio (DPR) is currently 7.18%.

Analyst Ratings Changes

A number of research firms have commented on BFH. BTIG Research lifted their price objective on shares of Bread Financial from $105.00 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. The Goldman Sachs Group upped their price objective on Bread Financial from $94.00 to $108.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. UBS Group increased their price objective on Bread Financial from $120.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Barclays lifted their target price on Bread Financial from $104.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, July 24th. Finally, TD Cowen upped their price objective on shares of Bread Financial from $103.00 to $114.00 and gave the stock a "hold" rating in a research report on Friday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $112.08.

Bread Financial Company Profile

Bread Financial, formerly known as Alliance Data Systems, is a Columbus, Ohio–based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners. The company designs, issues and services proprietary credit products, enabling merchants to offer branded financing options that drive customer loyalty and increase basket sizes at the point of sale. Through its Bread technology platform, Bread Financial delivers installment-based payment options that integrate directly into e-commerce and in-store checkout experiences.

In addition to its core credit offerings, Bread Financial provides analytics, marketing and loyalty services to help merchants better understand consumer behavior and optimize promotional strategies.

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