KLP Kapitalforvaltning AS Acquires 5,100 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Key Points

• KLP Kapitalforvaltning AS increased its stake in Bread Financial Holdings by 51.0%, bringing its total holdings to 15,100 shares valued at $756,000.
• Equities analysts have varying opinions on Bread Financial, with price targets ranging from $39.00 to $105.00, resulting in a consensus rating of "Hold" and a price target of $64.42.
• Bread Financial reported an earnings per share of $3.14 for the last quarter, significantly exceeding analysts' expectations of $1.85, despite a year-over-year revenue decline of 1.1%.

KLP Kapitalforvaltning AS increased its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 51.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,100 shares of the company's stock after purchasing an additional 5,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Bread Financial were worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Bread Financial by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 5,848,495 shares of the company's stock worth $357,109,000 after buying an additional 36,057 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Bread Financial in the fourth quarter worth approximately $104,000. Hsbc Holdings PLC boosted its holdings in shares of Bread Financial by 1.0% in the fourth quarter. Hsbc Holdings PLC now owns 1,452,509 shares of the company's stock worth $89,299,000 after buying an additional 13,679 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Bread Financial by 10.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,241,566 shares of the company's stock worth $75,810,000 after buying an additional 120,237 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Bread Financial by 31.1% in the fourth quarter. Franklin Resources Inc. now owns 1,207,404 shares of the company's stock worth $73,724,000 after buying an additional 286,720 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Insider Activity at Bread Financial

In other Bread Financial news, Director John J. Fawcett purchased 1,027 shares of Bread Financial stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average price of $61.79 per share, for a total transaction of $63,458.33. Following the completion of the transaction, the director 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.85% of the company's stock.

Bread Financial Price Performance

Shares of NYSE:BFH traded down $3.72 during trading on Friday, hitting $57.58. 1,319,146 shares of the company's stock were exchanged, compared to its average volume of 685,377. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.18 and a quick ratio of 1.17. Bread Financial Holdings, Inc. has a 52-week low of $38.21 and a 52-week high of $66.71. The business's 50-day simple moving average is $56.77 and its 200 day simple moving average is $54.44. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.04 and a beta of 1.42.

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 the consensus estimate of $1.85 by $1.29. Bread Financial had a return on equity of 13.10% and a net margin of 6.05%. The firm had revenue of $929.00 million during the quarter, compared to analysts' expectations of $944.69 million. During the same quarter last year, the business posted $2.66 earnings per share. The firm's revenue was down 1.1% on a year-over-year basis. As a group, equities analysts predict that Bread Financial Holdings, Inc. will post 6.45 EPS for the current year.

Bread Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 8th. Bread Financial's dividend payout ratio (DPR) is currently 14.21%.

Analyst Ratings Changes

A number of analysts have commented on BFH shares. Jefferies Financial Group upped their price target on Bread Financial from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Thursday, April 24th. Royal Bank Of Canada upped their price target on Bread Financial from $65.00 to $74.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Morgan Stanley upped their price target on Bread Financial from $36.00 to $39.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. JMP Securities restated a "market perform" rating on shares of Bread Financial in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded Bread Financial from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $64.42.

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.