Versor Investments LP Cuts Holdings in Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by Defense World Staff on Apr 15th, 2023

Versor Investments LP decreased its position in Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) by 32.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,400 shares of the company’s stock after selling 5,500 shares during the period. Versor Investments LP’s holdings in Bread Financial were worth $429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its holdings in Bread Financial by 12.8% in the fourth quarter. New York State Teachers Retirement System now owns 67,172 shares of the company’s stock valued at $2,530,000 after buying an additional 7,632 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Bread Financial by 14.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,582 shares of the company’s stock worth $624,000 after purchasing an additional 2,087 shares in the last quarter. Comerica Bank increased its stake in shares of Bread Financial by 30.3% during the fourth quarter. Comerica Bank now owns 30,486 shares of the company’s stock worth $1,174,000 after purchasing an additional 7,091 shares in the last quarter. Sigma Planning Corp increased its stake in shares of Bread Financial by 371.6% during the fourth quarter. Sigma Planning Corp now owns 8,787 shares of the company’s stock worth $331,000 after purchasing an additional 12,022 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Bread Financial by 78.2% during the fourth quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the company’s stock worth $893,000 after purchasing an additional 10,400 shares in the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

Bread Financial Stock Performance

BFH opened at $27.71 on Friday. The firm has a market capitalization of $1.39 billion, a PE ratio of 6.21, a PEG ratio of 0.16 and a beta of 1.92. Bread Financial Holdings, Inc. has a twelve month low of $26.21 and a twelve month high of $60.79. The firm’s 50-day moving average price is $34.57 and its 200 day moving average price is $36.10. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.84.

Bread Financial (NYSE:BFH – Get Rating) last posted its earnings results on Thursday, January 26th. The company reported ($2.68) earnings per share for the quarter, beating the consensus estimate of ($3.67) by $0.99. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. Bread Financial had a net margin of 5.13% and a return on equity of 9.69%. Bread Financial’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. As a group, sell-side analysts expect that Bread Financial Holdings, Inc. will post 9.58 EPS for the current fiscal year.

Bread Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, February 10th were issued a $0.21 dividend. The ex-dividend date was Thursday, February 9th. This represents a $0.84 annualized dividend and a yield of 3.03%. Bread Financial’s payout ratio is 18.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BFH. The Goldman Sachs Group cut their target price on shares of Bread Financial from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods cut shares of Bread Financial from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $35.00 to $30.00 in a research note on Tuesday. Morgan Stanley cut their target price on shares of Bread Financial from $39.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. Finally, Stephens reissued an “overweight” rating and set a $64.00 target price on shares of Bread Financial in a research note on Friday, March 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.88.

About Bread Financial

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Bread Financial Holdings, Inc engages in the provision of payment, lending, and saving solutions. The firm also offers private label and co-brand credit cards and buy now, pay later products such as installment loans and split-pay offerings. The company was founded in 1996 and is headquartered in Columbus, OH.

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

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