Bread Financial Holdings, Inc. $BFH Stock: Pzena Investment Management LLC Lowers Holdings

Key Points

• Pzena Investment Management reduced its Bread Financial stake by 18.5% in the third quarter, selling 60,519 shares; it retained 266,929 shares valued at about $26.1 million.
• Bread Financial reported quarterly EPS of $3.84, beating the $3.34 consensus, while revenue of $1.02 billion topped estimates and rose 4.7% year over year.
• The company raised its quarterly dividend from $0.23 to $0.25 per share. Analysts’ overall rating was “Hold,” with an average price target of $111.71.

Pzena Investment Management LLC cut its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 18.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,929 shares of the company's stock after selling 60,519 shares during the quarter. Pzena Investment Management LLC owned about 0.70% of Bread Financial worth $26,092,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Bread Financial by 2.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,842 shares of the company's stock worth $416,000 after acquiring an additional 99 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Bread Financial by 2.6% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,915 shares of the company's stock valued at $383,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Bread Financial by 27.2% in the second quarter. Allworth Financial LP now owns 679 shares of the company's stock valued at $74,000 after purchasing an additional 145 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Bread Financial by 58.7% in the first 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 period. Finally, Lazard Asset Management LLC increased its holdings in shares of Bread Financial by 1.7% in the first quarter. Lazard Asset Management LLC now owns 16,576 shares of the company's stock valued at $1,241,000 after purchasing an additional 272 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Bread Financial Price Performance

Shares of BFH opened at $102.83 on Friday. The business's 50-day moving average is $103.69 and its two-hundred day moving average is $92.30. The company has a market capitalization of $3.90 billion, a P/E ratio of 8.11, a P/E/G ratio of 0.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.16. Bread Financial Holdings, Inc. has a fifty-two week low of $59.26 and a fifty-two week high of $114.53.

Bread Financial (NYSE:BFH - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The company reported $3.84 earnings per share for the quarter, beating analysts' consensus estimates of $3.34 by $0.50. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Bread Financial had a return on equity of 17.24% and a net margin of 11.19%. The company's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $4.02 EPS. Research analysts predict that Bread Financial Holdings, Inc. will post 12.51 earnings per share for the current year.

Bread Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of $0.25 per share. This is an increase from Bread Financial's previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, November 30th. Bread Financial's dividend payout ratio (DPR) is 7.89%.

Wall Street Analysts Forecast Growth

BFH has been the subject of several research analyst reports. Wolfe Research upgraded Bread Financial from a "peer perform" rating to an "outperform" rating and set a $130.00 price objective for the company in a research note on Tuesday, August 25th. TD Cowen upped their target price on Bread Financial from $111.00 to $113.00 and gave the company a "hold" rating in a research report on Friday, October 23rd. Morgan Stanley set a $107.00 price target on shares of Bread Financial in a report on Friday, July 24th. Zacks Research lowered shares of Bread Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $115.00 price target on shares of Bread Financial in a research report on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $111.71.

Insider Transactions at Bread Financial

In related news, Director John Fawcett purchased 5,000 shares of the firm's stock in a transaction on Wednesday, October 28th. The stock was bought at an average cost of $24.70 per share, with a total value of $123,500.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at $123,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

About Bread Financial

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

The company operates through its Bread platform, which supports merchants with financing options, payment processing and customer loyalty solutions. Its consumer products have included Bread Cashback credit cards, Bread Pay installment payment services and Bread Savings deposit accounts.

Bread Financial primarily serves consumers and merchants in the United States, with solutions designed for retail, travel, home improvement and other industries.

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