New York State Common Retirement Fund Sells 19,400 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Key Points

• The New York State Common Retirement Fund has significantly reduced its stake in Bread Financial Holdings by selling 19,400 shares, which represents a 53.3% decrease.
• Bread Financial recently reported a quarterly earnings per share (EPS) of $3.14, surpassing analyst expectations, although its revenue declined by 1.1% year-over-year.
• The company declared a quarterly dividend of $0.21 per share, with a dividend yield of 1.33%, indicating a sustainable payout ratio of 14.92%.

New York State Common Retirement Fund lowered its stake in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 53.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,019 shares of the company's stock after selling 19,400 shares during the period. New York State Common Retirement Fund's holdings in Bread Financial were worth $852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BFH. Castlekeep Investment Advisors LLC bought a new position in Bread Financial in the 4th quarter worth about $104,000. Point72 Asset Management L.P. boosted its stake in 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 in the last quarter. Norges Bank bought a new position in Bread Financial in the 4th quarter worth about $23,740,000. Franklin Resources Inc. boosted its stake in Bread Financial by 31.1% in the 4th quarter. Franklin Resources Inc. now owns 1,207,404 shares of the company's stock worth $73,724,000 after purchasing an additional 286,720 shares in the last quarter. Finally, Azora Capital LP bought a new position in Bread Financial in the 4th quarter worth about $13,545,000. Institutional investors own 99.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Bread Financial from $65.00 to $74.00 and gave the stock a "sector perform" rating in a research note on Friday. Wall Street Zen raised shares of Bread Financial from a "hold" rating to a "strong-buy" rating in a report on Saturday. JMP Securities reissued a "market perform" rating on shares of Bread Financial in a report on Monday, April 28th. BTIG Research set a $105.00 price objective on shares of Bread Financial and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Barclays reaffirmed an "underweight" rating and issued a $52.00 target price (up previously from $45.00) on shares of Bread Financial in a research report on Tuesday, July 8th. Three research 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. According to data from MarketBeat.com, Bread Financial currently has a consensus rating of "Hold" and an average target price of $64.42.

Bread Financial Stock Performance

Shares of NYSE:BFH traded up $2.32 during trading on Friday, hitting $63.32. The company's stock had a trading volume of 1,085,395 shares, compared to its average volume of 647,762. The company has a 50-day moving average of $55.95 and a 200-day moving average of $54.33. Bread Financial Holdings, Inc. has a 12 month low of $38.21 and a 12 month high of $66.71. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.18 and a quick ratio of 1.17. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 1.18 and a beta of 1.38.

Bread Financial (NYSE:BFH - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $1.85 by $1.29. The firm had revenue of $929.00 million for the quarter, compared to analysts' expectations of $944.69 million. Bread Financial had a net margin of 6.05% and a return on equity of 13.10%. The business's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.66 EPS. On average, sell-side analysts expect that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current year.

Bread Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, August 8th. Bread Financial's dividend payout ratio 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.