Renaissance Technologies LLC Invests $10.83 Million in Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by on Mar 6th, 2023

Renaissance Technologies LLC acquired a new position in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 344,242 shares of the company’s stock, valued at approximately $10,826,000. Renaissance Technologies LLC owned about 0.69% of Bread Financial as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. IFP Advisors Inc acquired a new stake in shares of Bread Financial during the third quarter worth $116,000. Eukles Asset Management purchased a new position in shares of Bread Financial in the 3rd quarter worth $26,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of Bread Financial in the 3rd quarter worth $29,000. Nisa Investment Advisors LLC purchased a new position in shares of Bread Financial in the 3rd quarter worth $46,000. Finally, Shell Asset Management Co. purchased a new position in shares of Bread Financial in the 3rd quarter worth $77,000. Institutional investors and hedge funds own 96.62% of the company’s stock.

Bread Financial Trading Up 0.8 %

NYSE:BFH opened at $40.62 on Monday. The business’s 50-day moving average is $39.83 and its two-hundred day moving average is $37.68. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 1.19. Bread Financial Holdings, Inc. has a 12 month low of $28.85 and a 12 month high of $63.20. The firm has a market capitalization of $2.04 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.22 and a beta of 1.98.

Bread Financial (NYSE:BFH – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The company reported ($2.68) EPS for the quarter, beating the consensus estimate of ($3.67) by $0.99. Bread Financial had a return on equity of 9.69% and a net margin of 5.13%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company posted $1.21 earnings per share. The firm’s revenue was up 20.8% compared to the same quarter last year. Research analysts predict that Bread Financial Holdings, Inc. will post 10.21 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, February 10th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.07%. The ex-dividend date is Thursday, February 9th. Bread Financial’s dividend payout ratio (DPR) is presently 18.83%.

Wall Street Analysts Forecast Growth

Separately, Stephens raised Bread Financial from an “equal weight” rating to an “overweight” rating and set a $64.00 target price on the stock in a research report on Thursday, January 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.00.

About Bread Financial

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Bread Financial Holdings, Inc engages in the provision of data-driven and transaction-based marketing, customer loyalty and payment solutions. Its products and services include credit cards, loan financing, processing, and servicing, marketing, data and analytics, and digital offerings. The company was founded in 1996 and is headquartered in Columbus, OH.

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Institutional Ownership by Quarter for Bread Financial (NYSE:BFH)

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