Bread Financial Holdings, Inc. $BFH Shares Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Bread Financial stake by 238.9% in the second quarter, holding 25,470 shares worth approximately $2.76 million. Institutional investors collectively own 99.52% of BFH.
• Bread Financial reported quarterly EPS of $3.55, beating estimates of $2.74, while revenue rose 6.9% year over year to $993 million. Analysts maintain a “Moderate Buy” consensus rating with a $112.29 average price target.
• The company declared a quarterly dividend of $0.23 per share, equivalent to $0.92 annually and a 0.8% yield. Shares opened at $109.27, near their 12-month high of $114.53.

Engineers Gate Manager LP lifted its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 238.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,470 shares of the company's stock after buying an additional 17,955 shares during the period. Engineers Gate Manager LP owned approximately 0.07% of Bread Financial worth $2,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Bread Financial in the second quarter worth approximately $30,000. Cullen Frost Bankers Inc. purchased a new stake in Bread Financial in the fourth quarter valued at $29,000. IFP Advisors Inc raised its position in Bread Financial by 125.8% in the second quarter. IFP Advisors Inc now owns 490 shares of the company's stock valued at $53,000 after purchasing an additional 273 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Bread Financial by 58.7% in the 1st quarter. Pacer Advisors Inc. now owns 614 shares of the company's stock valued at $46,000 after purchasing an additional 227 shares during the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Bread Financial in the 2nd quarter valued at $74,000. Hedge funds and other institutional investors own 99.52% of the company's stock.

Insider Transactions at Bread Financial

In other news, Director Praniti Lakhwara sold 2,802 shares of the 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 sale, the director owned 4,458 shares of the company's stock, valued at approximately $473,082.96. This represents a 38.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BFH. Zacks Research raised 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. The Goldman Sachs Group upped their target price on shares of Bread Financial from $94.00 to $108.00 and gave the company a "neutral" rating in a research report on Tuesday, July 7th. Bank of America reaffirmed a "buy" rating and set a $108.00 target price on shares of Bread Financial in a research note on Wednesday, June 10th. Finally, Loop Capital began coverage on shares of Bread Financial in a research report on Thursday, May 21st. They set a "buy" rating and a $104.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $112.29.

Bread Financial Trading Up 2.7%

Shares of NYSE BFH opened at $109.27 on Tuesday. Bread Financial Holdings, Inc. has a twelve month low of $53.83 and a twelve month high of $114.53. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $105.84 and a 200-day simple moving average of $92.98. The stock has a market capitalization of $4.20 billion, a PE ratio of 8.52, a PEG ratio of 0.67 and a beta of 1.10.

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 (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.81. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%.The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $959.32 million. During the same quarter in the previous year, the business earned $3.15 EPS. The company's quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Bread Financial Holdings, Inc. will post 12.1 earnings per share for the current year.

Bread Financial Announces Dividend

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

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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