Bread Financial Holdings, Inc. (NYSE:BFH) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 152,941 shares of the company’s stock after selling 7,674 shares during the period. Rhumbline Advisers’ holdings in Bread Financial were worth $7,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Bread Financial by 0.6% during 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 period. Castlekeep Investment Advisors LLC acquired a new position in shares of Bread Financial during the fourth quarter worth approximately $104,000. Hsbc Holdings PLC boosted its position in shares of Bread Financial by 1.0% during 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 period. American Century Companies Inc. boosted its position in shares of Bread Financial by 6.8% during the fourth quarter. American Century Companies Inc. now owns 1,382,135 shares of the company’s stock worth $84,393,000 after buying an additional 88,081 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Bread Financial by 10.7% during 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 period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BFH. Morgan Stanley boosted their price objective on Bread Financial from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, May 12th. The Goldman Sachs Group dropped their target price 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 boosted their target price on Bread Financial from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, April 24th. Finally, JMP Securities reissued a “market perform” rating on shares of Bread Financial in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Bread Financial has a consensus rating of “Hold” and an average price target of $60.27.

Bread Financial Price Performance

NYSE BFH opened at $52.35 on Wednesday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 9.43, a P/E/G ratio of 1.25 and a beta of 1.37. Bread Financial Holdings, Inc. has a 1 year low of $38.21 and a 1 year high of $66.71. The business’s fifty day moving average is $49.22 and its two-hundred day moving average is $55.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.15 and a current ratio of 1.15.

Bread Financial (NYSE:BFH) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.76. The company had revenue of $970.00 million for the quarter, compared to analysts’ expectations of $956.17 million. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.73 earnings per share. On average, research analysts forecast that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a $0.21 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.84 annualized dividend and a dividend yield of 1.60%. Bread Financial’s dividend payout ratio is currently 14.92%.

Bread Financial declared that its board has initiated a stock buyback plan on Wednesday, March 5th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.