Rhumbline Advisers Trims Stock Position in Bread Financial Holdings, Inc. $BFH

Key Points

• Rhumbline Advisers sold 7,674 shares of Bread Financial Holdings, Inc., reducing its ownership by 4.8% to approximately 152,941 shares, valued at $7.66 million.
• Several institutional investors, including Goldman Sachs and Wellington Management, have significantly increased their positions in Bread Financial during the first quarter, demonstrating strong institutional interest.
• Bread Financial has announced a quarterly dividend of $0.21 per share, with an ex-dividend date of August 8th, representing an annual yield of 1.3%.

Rhumbline Advisers cut its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 152,941 shares of the company's stock after selling 7,674 shares during the quarter. Rhumbline Advisers owned approximately 0.33% of Bread Financial worth $7,659,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in Bread Financial by 5.8% during the 1st quarter. American Century Companies Inc. now owns 1,461,844 shares of the company's stock valued at $73,209,000 after purchasing an additional 79,709 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Bread Financial by 45.0% in the first quarter. Wellington Management Group LLP now owns 1,320,418 shares of the company's stock worth $66,127,000 after acquiring an additional 409,877 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Bread Financial by 104.8% in the first quarter. Goldman Sachs Group Inc. now owns 736,604 shares of the company's stock worth $36,889,000 after acquiring an additional 376,920 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Bread Financial by 0.8% in the first quarter. Pzena Investment Management LLC now owns 728,204 shares of the company's stock worth $36,468,000 after acquiring an additional 6,065 shares during the last quarter. Finally, Northern Trust Corp increased its position in Bread Financial by 0.9% during the first quarter. Northern Trust Corp now owns 606,546 shares of the company's stock worth $30,376,000 after buying an additional 5,291 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John J. Fawcett purchased 1,027 shares of Bread Financial stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $61.79 per share, for a total transaction of $63,458.33. Following the completion of the acquisition, the director owned 10,302 shares of the company's stock, valued at $636,560.58. This trade represents a 11.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.62% of the company's stock.

Bread Financial Stock Performance

BFH traded up $0.66 on Monday, reaching $63.84. The company had a trading volume of 503,567 shares, compared to its average volume of 798,981. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $2.98 billion, a P/E ratio of 10.80, a P/E/G ratio of 0.57 and a beta of 1.46. Bread Financial Holdings, Inc. has a fifty-two week low of $38.21 and a fifty-two week high of $68.01. The company's fifty day moving average is $62.07 and its 200 day moving average is $54.60.

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

Bread Financial announced that its board has initiated a share repurchase program on Wednesday, August 27th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Bread Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 8th were given a dividend of $0.21 per share. The ex-dividend date was Friday, August 8th. This represents a $0.84 annualized dividend and a dividend yield of 1.3%. Bread Financial's dividend payout ratio is 14.21%.

Analyst Ratings Changes

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

About Bread Financial

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.