California State Teachers Retirement System Sells 1,607 Shares of Bread Financial Holdings, Inc. $BFH

Key Points

• California State Teachers Retirement System reduced its Bread Financial stake by 3.0%, selling 1,607 shares and retaining 52,568 shares valued at approximately $5.7 million. Institutional investors collectively own 99.52% of the company.
• Bread Financial reported quarterly EPS of $3.55, exceeding estimates of $2.74, while revenue reached $993 million and rose 6.9% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $112.29, compared with the stock’s reported price of $106.76. The company also declared a quarterly dividend of $0.23, representing a 0.9% yield.

California State Teachers Retirement System lowered its holdings in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,568 shares of the company's stock after selling 1,607 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Bread Financial worth $5,695,743 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in Bread Financial by 2.6% during the second 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. Pacer Advisors Inc. raised its position in shares of Bread Financial by 58.7% during the 1st quarter. Pacer Advisors Inc. now owns 614 shares of the company's stock worth $46,000 after acquiring an additional 227 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Bread Financial by 1.7% during the first quarter. Lazard Asset Management LLC now owns 16,576 shares of the company's stock worth $1,241,000 after buying an additional 272 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Bread Financial in the second quarter valued at $30,000. Finally, New Age Alpha Advisors LLC boosted its holdings in Bread Financial by 5.1% in the 4th quarter. New Age Alpha Advisors LLC now owns 6,494 shares of the company's stock worth $481,000 after acquiring an additional 318 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Bank of America reaffirmed a "buy" rating and set a $108.00 price objective on shares of Bread Financial in a research report on Wednesday, June 10th. Morgan Stanley set a $107.00 target price on shares of Bread Financial in a report on Friday, July 24th. Evercore restated an "outperform" rating and set a $116.00 price objective on shares of Bread Financial in a report on Monday, July 6th. The Goldman Sachs Group lifted their price objective on Bread Financial from $94.00 to $108.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Bread Financial in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $112.29.

Insiders Place Their Bets

In other news, Director Praniti Lakhwara sold 2,802 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $106.12, for a total value of $297,348.24. Following the transaction, the director directly owned 4,458 shares in the company, valued at approximately $473,082.96. This represents a 38.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

Bread Financial Price Performance

Shares of NYSE:BFH traded down $2.47 during midday trading on Tuesday, reaching $106.76. 269,812 shares of the company's stock were exchanged, compared to its average volume of 701,459. Bread Financial Holdings, Inc. has a 12 month low of $53.83 and a 12 month high of $114.53. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $4.10 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 0.67 and a beta of 1.10. The company's 50 day simple moving average is $105.84 and its two-hundred day simple moving average is $92.98.

Bread Financial (NYSE:BFH - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $993.00 million during the quarter, compared to analysts' expectations of $959.32 million. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%.The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.15 earnings per share. Equities research analysts expect that Bread Financial Holdings, Inc. will post 12.1 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The business 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st. Bread Financial's 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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