Turtle Creek Asset Management Inc. Sells 842,622 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Turtle Creek Asset Management Inc. trimmed its holdings in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 18.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,740,994 shares of the company's stock after selling 842,622 shares during the period. Bread Financial makes up about 5.9% of Turtle Creek Asset Management Inc.'s holdings, making the stock its 4th largest holding. Turtle Creek Asset Management Inc. owned approximately 7.52% of Bread Financial worth $228,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its stake in shares of Bread Financial by 2,083.3% in the 4th quarter. Picton Mahoney Asset Management now owns 524 shares of the company's stock valued at $32,000 after acquiring an additional 500 shares during the period. Pinnacle Holdings LLC acquired a new stake in Bread Financial in the 4th quarter valued at approximately $46,000. Smartleaf Asset Management LLC raised its position in Bread Financial by 207.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,394 shares of the company's stock valued at $86,000 after purchasing an additional 941 shares during the period. KBC Group NV lifted its stake in Bread Financial by 36.1% during the fourth quarter. KBC Group NV now owns 2,103 shares of the company's stock worth $128,000 after purchasing an additional 558 shares in the last quarter. Finally, Choreo LLC acquired a new position in Bread Financial during the fourth quarter worth $201,000. Institutional investors and hedge funds own 99.52% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BFH. Jefferies Financial Group boosted their price objective on Bread Financial from $45.00 to $50.00 and gave the company a "hold" rating in a report on Thursday, April 24th. The Goldman Sachs Group cut their price target on shares of Bread Financial from $68.00 to $58.00 and set a "sell" rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada raised their price objective on shares of Bread Financial from $62.00 to $68.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. Barclays lifted their price objective on shares of Bread Financial from $51.00 to $53.00 and gave the company an "underweight" rating in a report on Friday, January 31st. Finally, JMP Securities reiterated a "market perform" rating on shares of Bread Financial in a report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Bread Financial presently has a consensus rating of "Hold" and an average target price of $60.27.

Bread Financial Stock Down 1.6%

Shares of BFH stock traded down $0.83 on Friday, reaching $50.46. 139,799 shares of the stock were exchanged, compared to its average volume of 869,472. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.25 and a beta of 1.33. The business's 50 day moving average price is $48.91 and its 200 day moving average price is $55.75. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.33. Bread Financial Holdings, Inc. has a twelve month low of $38.21 and a twelve month high of $66.71.

Bread Financial (NYSE:BFH - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $956.17 million. During the same period in the prior year, the firm posted $2.73 EPS. The business's quarterly revenue was down 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, May 9th. Bread Financial's dividend payout ratio (DPR) is 14.92%.

Bread Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 5th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

About Bread Financial

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.