PNC Financial Services Group Inc. Purchases 625 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by Defense World Staff on Jun 3rd, 2023

PNC Financial Services Group Inc. increased its position in Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,466 shares of the company’s stock after buying an additional 625 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bread Financial were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. bought a new stake in Bread Financial in the third quarter valued at approximately $155,419,000. BlackRock Inc. bought a new stake in Bread Financial in the third quarter valued at approximately $153,464,000. Turtle Creek Asset Management Inc. bought a new stake in Bread Financial in the third quarter valued at approximately $143,669,000. State Street Corp bought a new stake in Bread Financial in the third quarter valued at approximately $52,807,000. Finally, Dimensional Fund Advisors LP lifted its position in Bread Financial by 30.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,338,711 shares of the company’s stock valued at $50,414,000 after purchasing an additional 312,717 shares during the last quarter. Institutional investors own 96.62% of the company’s stock.

Bread Financial Trading Up 7.5 %

Bread Financial stock opened at $30.89 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.20 and a quick ratio of 1.20. Bread Financial Holdings, Inc. has a one year low of $23.19 and a one year high of $55.87. The stock has a market capitalization of $1.55 billion, a PE ratio of 3.31, a price-to-earnings-growth ratio of 0.07 and a beta of 1.91. The business’s fifty day moving average is $28.05 and its 200 day moving average is $34.70.

Bread Financial (NYSE:BFH – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The company reported $9.08 EPS for the quarter, beating the consensus estimate of $7.11 by $1.97. Bread Financial had a return on equity of 19.35% and a net margin of 9.66%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm posted $4.21 earnings per share. Bread Financial’s revenue was up 40.0% compared to the same quarter last year. On average, sell-side analysts predict that Bread Financial Holdings, Inc. will post 11.68 EPS for the current year.

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, May 12th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 11th. Bread Financial’s dividend payout ratio is 8.99%.

Insider Buying and Selling at Bread Financial

In other news, major shareholder Turtle Creek Asset Management bought 5,850 shares of the stock in a transaction on Friday, May 19th. The shares were bought at an average price of $29.74 per share, with a total value of $173,979.00. Following the completion of the acquisition, the insider now owns 4,942,624 shares in the company, valued at $146,993,637.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have bought 568,911 shares of company stock valued at $15,310,418. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on Bread Financial from $39.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. Stephens restated an “overweight” rating and set a $64.00 target price on shares of Bread Financial in a report on Friday, March 10th. Keefe, Bruyette & Woods cut Bread Financial from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $35.00 to $30.00 in a research note on Tuesday, April 11th. Finally, The Goldman Sachs Group cut their target price on Bread Financial from $42.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.88.

Bread Financial Profile

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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.