Neo Ivy Capital Management Buys 24,711 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Neo Ivy Capital Management raised its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 68.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,579 shares of the company's stock after buying an additional 24,711 shares during the quarter. Neo Ivy Capital Management owned about 0.12% of Bread Financial worth $3,698,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Castlekeep Investment Advisors LLC purchased a new position in Bread Financial during the 4th quarter valued at about $104,000. Point72 Asset Management L.P. raised its position in shares of Bread Financial by 550.8% in the 4th quarter. Point72 Asset Management L.P. now owns 462,307 shares of the company's stock worth $28,228,000 after purchasing an additional 391,272 shares during the last quarter. Norges Bank bought a new position in Bread Financial in the 4th quarter worth about $23,740,000. Franklin Resources Inc. grew its position in Bread Financial by 31.1% during the 4th quarter. Franklin Resources Inc. now owns 1,207,404 shares of the company's stock valued at $73,724,000 after purchasing an additional 286,720 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its stake in Bread Financial by 5,654.9% during the 4th quarter. Great Lakes Advisors LLC now owns 256,151 shares of the company's stock valued at $15,641,000 after purchasing an additional 251,700 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

Bread Financial Stock Performance

Shares of BFH stock traded down $0.49 on Wednesday, reaching $51.80. The stock had a trading volume of 112,494 shares, compared to its average volume of 867,782. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.15 and a current ratio of 1.15. Bread Financial Holdings, Inc. has a 1 year low of $38.21 and a 1 year high of $66.71. The stock has a market cap of $2.41 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The company has a 50 day simple moving average of $49.04 and a 200 day simple moving average of $55.57.

Bread Financial (NYSE:BFH - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.76. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. The business had revenue of $970.00 million for the quarter, compared to analysts' expectations of $956.17 million. During the same period last year, the firm posted $2.73 earnings per share. The business's revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts expect that Bread Financial Holdings, Inc. will post 6.45 EPS for the current year.

Bread Financial declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 5th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Bread Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.84 annualized dividend and a yield of 1.62%. Bread Financial's dividend payout ratio (DPR) is 14.92%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BFH. Royal Bank of Canada upped their target price on shares of Bread Financial from $62.00 to $68.00 and gave the stock a "sector perform" rating in a research note on Friday, January 31st. Jefferies Financial Group upped their price objective on Bread Financial from $45.00 to $50.00 and gave the company a "hold" rating in a research report on Thursday, April 24th. The Goldman Sachs Group cut their target price on Bread Financial from $68.00 to $58.00 and set a "sell" rating on the stock in a research note on Tuesday, March 18th. Barclays lifted their target price on Bread Financial from $51.00 to $53.00 and gave the stock an "underweight" rating in a report on Friday, January 31st. Finally, Morgan Stanley upped their price target on Bread Financial from $36.00 to $39.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $60.27.

Bread Financial Profile

Bread Financial Holdings, Inc provides tech-forward payment and lending solutions to customers and consumer-based industries in North America. It offers credit card and other loans financing services, including risk management solutions, account origination, and funding services for private label and co-brand credit card programs, as well as through Bread partnerships; and Comenity-branded general purpose cash-back credit.