Rhumbline Advisers Cuts Stock Holdings in Bread Financial Holdings, Inc. (NYSE:BFH)

Rhumbline Advisers cut its stake in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,941 shares of the company's stock after selling 7,674 shares during the period. Rhumbline Advisers owned approximately 0.32% of Bread Financial worth $7,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Castlekeep Investment Advisors LLC acquired a new position in Bread Financial in the fourth quarter valued at approximately $104,000. Point72 Asset Management L.P. lifted its holdings in Bread Financial by 550.8% in the fourth quarter. Point72 Asset Management L.P. now owns 462,307 shares of the company's stock valued at $28,228,000 after acquiring an additional 391,272 shares during the last quarter. Norges Bank acquired a new position in Bread Financial in the fourth quarter valued at approximately $23,740,000. Franklin Resources Inc. lifted its holdings in Bread Financial by 31.1% in the fourth quarter. Franklin Resources Inc. now owns 1,207,404 shares of the company's stock valued at $73,724,000 after acquiring an additional 286,720 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its holdings in Bread Financial by 5,654.9% in the fourth quarter. Great Lakes Advisors LLC now owns 256,151 shares of the company's stock valued at $15,641,000 after acquiring an additional 251,700 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Bread Financial Trading Down 5.3%

NYSE:BFH traded down $2.86 during trading hours on Friday, reaching $50.72. 623,795 shares of the stock were exchanged, compared to its average volume of 879,371. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average of $49.83 and a two-hundred day moving average of $55.01. Bread Financial Holdings, Inc. has a twelve month low of $38.21 and a twelve month high of $66.71. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.25 and a beta of 1.37.

Bread Financial (NYSE:BFH - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.76. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. The company had revenue of $970.00 million for the quarter, compared to analysts' expectations of $956.17 million. During the same period in the prior year, the firm earned $2.73 earnings per share. The firm's revenue was down 2.1% compared to the same quarter last year. On average, equities analysts predict that Bread Financial Holdings, Inc. will post 6.45 EPS for the current year.

Bread Financial announced that its board has authorized a share repurchase program on Wednesday, March 5th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Bread Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, May 9th. Bread Financial's dividend payout ratio is currently 14.92%.

Analyst Upgrades and Downgrades

BFH has been the topic of a number of recent analyst reports. JMP Securities reiterated a "market perform" rating on shares of Bread Financial in a report on Monday, April 28th. The Goldman Sachs Group decreased their price objective on Bread Financial from $68.00 to $58.00 and set a "sell" rating on the stock in a report on Tuesday, March 18th. Jefferies Financial Group upped 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. Finally, Morgan Stanley upped their price objective on Bread Financial from $36.00 to $39.00 and gave the company an "underweight" rating in a report on Monday, May 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Bread Financial has a consensus rating of "Hold" and a consensus target price of $60.27.

Bread Financial 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.