Rhumbline Advisers Lowers Holdings 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 trimmed its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,941 shares of the company's stock after selling 7,674 shares during the period. Rhumbline Advisers owned 0.33% of Bread Financial worth $7,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings 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. Point72 Asset Management L.P. increased its position in Bread Financial by 550.8% during the 4th quarter. Point72 Asset Management L.P. now owns 462,307 shares of the company's stock valued at $28,228,000 after purchasing an additional 391,272 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Bread Financial by 104.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 736,604 shares of the company's stock worth $36,889,000 after buying an additional 376,920 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Bread Financial by 43.6% in the 1st quarter. Invesco Ltd. now owns 529,049 shares of the company's stock worth $26,495,000 after purchasing an additional 160,580 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Bread Financial by 45.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 506,168 shares of the company's stock worth $25,349,000 after purchasing an additional 158,557 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bread Financial Trading Up 0.7%

Shares of NYSE:BFH traded up $0.43 during trading on Wednesday, reaching $63.42. 156,895 shares of the company traded hands, compared to its average volume of 794,146. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.58 and a beta of 1.46. Bread Financial Holdings, Inc. has a 52-week low of $38.21 and a 52-week high of $68.01. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.36. The business's fifty day moving average is $62.23 and its 200-day moving average is $54.72.

Bread Financial (NYSE:BFH - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $3.14 EPS for the quarter, beating 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 return on equity of 13.10% and a net margin of 6.05%.The firm's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 earnings per share. Bread Financial has set its FY 2025 guidance at EPS. As a group, analysts forecast that Bread Financial Holdings, Inc. will post 6.45 EPS for the current year.

Bread Financial Dividend Announcement

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

Bread Financial declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 27th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at Bread Financial

In related news, Director John J. Fawcett bought 1,027 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $61.79 per share, with a total value of $63,458.33. Following the completion of the purchase, the director owned 10,302 shares in the company, valued at approximately $636,560.58. The trade was a 11.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.62% of the company's stock.

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.