Amalgamated Bank Reduces Stock Position in Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by Defense World Staff on Jun 8th, 2023

Amalgamated Bank cut its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) by 31.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,682 shares of the company’s stock after selling 10,333 shares during the period. Amalgamated Bank’s holdings in Bread Financial were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Bread Financial by 38.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,646 shares of the company’s stock worth $3,527,000 after acquiring an additional 25,912 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Bread Financial by 48.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,349 shares of the company’s stock worth $277,000 after buying an additional 2,410 shares during the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of Bread Financial by 33.9% in the fourth quarter. Brandywine Global Investment Management LLC now owns 133,778 shares of the company’s stock worth $5,038,000 after buying an additional 33,879 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Bread Financial by 3.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,466 shares of the company’s stock worth $620,000 after buying an additional 625 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Bread Financial by 14.6% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 28,533 shares of the company’s stock worth $1,075,000 after buying an additional 3,642 shares during the last quarter. 96.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

BFH has been the topic of a number of recent research reports. The Goldman Sachs Group lowered 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. Stephens reaffirmed an “overweight” rating and issued a $64.00 price target 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 report on Tuesday, April 11th. Finally, Morgan Stanley reduced their price target 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bread Financial currently has an average rating of “Hold” and a consensus price target of $44.88.

Insider Activity at Bread Financial

In related news, major shareholder Turtle Creek Asset Management purchased 150,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average price of $25.17 per share, with a total value of $3,775,500.00. Following the completion of the acquisition, the insider now owns 4,495,972 shares in the company, valued at $113,163,615.24. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders purchased 568,911 shares of company stock valued at $15,310,418. 0.34% of the stock is currently owned by insiders.

Bread Financial Price Performance

Shares of Bread Financial stock opened at $32.73 on Thursday. The business has a 50 day simple moving average of $28.13 and a two-hundred day simple moving average of $34.55. Bread Financial Holdings, Inc. has a 12 month low of $23.19 and a 12 month high of $55.31. The stock has a market capitalization of $1.64 billion, a P/E ratio of 3.50, a PEG ratio of 0.08 and a beta of 1.91. 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 (NYSE:BFH – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported $9.08 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $1.97. Bread Financial had a return on equity of 19.35% and a net margin of 9.66%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $4.21 earnings per share. The business’s revenue was up 40.0% compared to the same quarter last year. As a group, analysts predict that Bread Financial Holdings, Inc. will post 11.68 EPS for the current fiscal year.

Bread Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 12th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.84 annualized dividend and a dividend yield of 2.57%. Bread Financial’s dividend payout ratio is presently 8.99%.

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.