Bank of America Corp DE Acquires New Shares in Bread Financial Holdings, Inc. $BFH

Key Points

• Bank of America acquired 607,351 shares of Bread Financial in the second quarter, valued at approximately $65.8 million and representing about 1.58% of the company. Institutional investors collectively own 99.52% of BFH.
• Bread Financial exceeded quarterly expectations, reporting earnings of $3.55 per share versus the $2.74 consensus and revenue of $993 million, up 6.9% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $112.29. BFH recently traded at $108.34 and pays a quarterly dividend of $0.23 per share.

Bank of America Corp DE acquired a new position in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 607,351 shares of the company's stock, valued at approximately $65,806,000. Bank of America Corp DE owned approximately 1.58% of Bread Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BFH. GAMMA Investing LLC raised its stake in Bread Financial by 2.6% in the second quarter. GAMMA Investing LLC now owns 3,842 shares of the company's stock valued at $416,000 after purchasing an additional 99 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Bread Financial by 58.7% during the first quarter. Pacer Advisors Inc. now owns 614 shares of the company's stock worth $46,000 after purchasing an additional 227 shares during the period. Lazard Asset Management LLC grew its position in shares of Bread Financial by 1.7% in the 1st quarter. Lazard Asset Management LLC now owns 16,576 shares of the company's stock worth $1,241,000 after buying an additional 272 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Bread Financial during the 2nd quarter valued at $30,000. Finally, New Age Alpha Advisors LLC boosted its position in Bread Financial by 5.1% during the 4th quarter. New Age Alpha Advisors LLC now owns 6,494 shares of the company's stock valued at $481,000 after acquiring an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Bread Financial Stock Performance

NYSE:BFH opened at $108.34 on Friday. 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's fifty day moving average is $106.72 and its 200 day moving average is $93.79. 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 $4.16 billion, a PE ratio of 8.45, a PEG ratio of 0.68 and a beta of 1.10.

Bread Financial (NYSE:BFH - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $3.55 earnings per share for the quarter, topping analysts' consensus estimates of $2.74 by $0.81. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $959.32 million. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%.The business's revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.15 earnings per share. On average, sell-side analysts anticipate that Bread Financial Holdings, Inc. will post 12.12 earnings per share for the current year.

Bread Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a dividend of $0.23 per share. The ex-dividend date was Monday, August 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.8%. Bread Financial's payout ratio is presently 7.18%.

Insider Buying and Selling at Bread Financial

In other 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 sale, the director directly owned 4,458 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on BFH shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bread Financial in a research report on Friday, July 24th. Evercore reissued an "outperform" rating and set a $116.00 price target on shares of Bread Financial in a report on Monday, July 6th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Bread Financial in a research note on Wednesday, June 10th. 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 research note on Tuesday, August 25th. Finally, TD Cowen lifted their target price on shares of Bread Financial from $103.00 to $114.00 and gave the company a "hold" rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.29.

Bread Financial Profile

Bread Financial Corporation NYSE: BFH is a financial services company that provides payment, lending and savings solutions for consumers and businesses. Its offerings include private-label and co-branded credit cards, installment loans, buy now, pay later financing and direct-to-consumer savings products.

The company works with retailers and brands to design and manage customized credit programs, including account servicing, underwriting, transaction processing and customer engagement services.

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