Bank of America Corp DE Boosts Stake in Bread Financial Holdings, Inc. $BFH

Key Points

• Bank of America increased its Bread Financial stake by 18.1% in the first quarter, acquiring 96,771 additional shares and bringing its holdings to 630,225 shares, or about 1.56% of the company. Institutional investors collectively own 99.52% of BFH.
• Bread Financial reported quarterly earnings of $3.55 per share, beating estimates of $2.74, while revenue rose 6.9% year over year to $992 million. The company also declared a $0.23 quarterly dividend, equivalent to a 0.8% annual yield.
• Analyst sentiment is mixed, with eight Buy, six Hold and one Sell rating; the consensus rating is Hold with a $110.58 price target. BFH recently traded at $110.22, near its 52-week high of $114.12.

Bank of America Corp DE increased its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 18.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 630,225 shares of the company's stock after acquiring an additional 96,771 shares during the period. Bank of America Corp DE owned approximately 1.56% of Bread Financial worth $47,198,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BFH. Kemnay Advisory Services Inc. purchased a new position in shares of Bread Financial in the 4th quarter valued at about $28,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Bread Financial during the 4th quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bread Financial by 141.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 562 shares of the company's stock worth $31,000 after acquiring an additional 329 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Bread Financial by 127.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 711 shares of the company's stock worth $41,000 after acquiring an additional 398 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Bread Financial by 8,300.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 840 shares of the company's stock worth $47,000 after acquiring an additional 830 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Bread Financial Trading Up 2.0%

Bread Financial stock opened at $110.22 on Thursday. Bread Financial Holdings, Inc. has a 52 week low of $53.83 and a 52 week high of $114.12. The stock has a market cap of $4.23 billion, a PE ratio of 8.60, a P/E/G ratio of 0.69 and a beta of 1.11. The stock has a 50-day moving average price of $102.86 and a 200 day moving average price of $87.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25.

Bread Financial (NYSE:BFH - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $3.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.74 by $0.81. The business had revenue of $992.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.15 earnings per share. Equities research analysts predict that Bread Financial Holdings, Inc. will post 12.1 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, August 31st. This represents a $0.92 annualized dividend and a dividend yield of 0.8%. Bread Financial's dividend payout ratio (DPR) is 7.18%.

Analysts Set New Price Targets

Several brokerages recently issued reports on BFH. TD Cowen lifted their price objective on Bread Financial from $103.00 to $114.00 and gave the stock a "hold" rating in a report on Friday, July 24th. BTIG Research raised their price target on Bread Financial from $105.00 to $132.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bread Financial in a research note on Friday, July 24th. Morgan Stanley set a $107.00 price objective on shares of Bread Financial in a research report on Friday, July 24th. Finally, Wolfe Research restated a "positive" rating on shares of Bread Financial in a research report on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $110.58.

Insider Activity at Bread Financial

In other Bread Financial news, Director John J. Fawcett bought 698 shares of Bread Financial stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $86.43 per share, for a total transaction of $60,328.14. Following the completion of the transaction, the director owned 11,000 shares of the company's stock, valued at $950,730. This represents a 6.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph J. Andretta sold 15,000 shares of Bread Financial stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $89.10, for a total value of $1,336,500.00. Following the completion of the sale, the chief executive officer owned 582,241 shares of the company's stock, valued at $51,877,673.10. This trade represents a 2.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.

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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