CX Institutional Acquires 54,751 Shares of Bread Financial Holdings, Inc. $BFH

Key Points

• CX Institutional increased its holdings in Bread Financial Holdings by 115.8% in Q2, acquiring an additional 54,751 shares for a total of 102,047 shares, representing a value of $5.83 million.
• Several hedge funds adjusted their positions in Bread Financial, contributing to institutional ownership of the company at 99.52%.
• Bread Financial's latest quarterly earnings exceeded expectations, reporting $3.14 EPS against a consensus estimate of $1.85, despite revenues declining 1.1% year-over-year.

CX Institutional grew its position in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 115.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,047 shares of the company's stock after purchasing an additional 54,751 shares during the period. CX Institutional owned approximately 0.22% of Bread Financial worth $5,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Bread Financial in the 2nd quarter worth approximately $166,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Bread Financial by 21.5% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 14,700 shares of the company's stock worth $840,000 after acquiring an additional 2,600 shares during the period. Three Seasons Wealth LLC acquired a new stake in shares of Bread Financial in the 2nd quarter worth approximately $491,000. Exchange Traded Concepts LLC lifted its stake in shares of Bread Financial by 5.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 95,591 shares of the company's stock worth $5,460,000 after acquiring an additional 5,342 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Bread Financial in the 2nd quarter worth approximately $310,000. Institutional investors own 99.52% of the company's stock.

Insider Buying and Selling

In other news, Director John J. Fawcett purchased 1,027 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $61.79 per share, with a total value of $63,458.33. Following the acquisition, the director directly owned 10,302 shares of the company's stock, valued at approximately $636,560.58. This trade represents a 11.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BFH. Barclays reaffirmed an "underweight" rating and issued a $52.00 price target (up from $45.00) on shares of Bread Financial in a research note on Tuesday, July 8th. BTIG Research set a $105.00 price target on shares of Bread Financial and gave the stock a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada increased their target price on shares of Bread Financial from $65.00 to $74.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, Wall Street Zen lowered shares of Bread Financial from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $64.91.

Bread Financial Trading Down 2.5%

Bread Financial stock traded down $1.55 during midday trading on Tuesday, reaching $61.08. The stock had a trading volume of 389,074 shares, compared to its average volume of 797,190. Bread Financial Holdings, Inc. has a twelve month low of $38.21 and a twelve month high of $68.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.58 and a beta of 1.46. The firm's fifty day simple moving average is $62.33 and its two-hundred day simple moving average is $55.11.

Bread Financial (NYSE:BFH - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $3.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $1.29. Bread Financial had a net margin of 6.05% and a return on equity of 13.10%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $944.69 million. During the same quarter in the prior year, the firm earned $2.66 EPS. The company's revenue was down 1.1% compared to the same quarter last year. Bread Financial has set its FY 2025 guidance at EPS. Equities analysts anticipate that Bread Financial Holdings, Inc. will post 6.45 EPS for the current fiscal year.

Bread Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, August 27th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, August 8th. Bread Financial's dividend payout ratio (DPR) is 14.21%.

Bread Financial Company 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.