Texas Permanent School Fund Corp Has $1.43 Million Stock Holdings in Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by Defense World Staff on Aug 1st, 2023

Texas Permanent School Fund Corp grew its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 41.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,190 shares of the company’s stock after purchasing an additional 13,745 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of Bread Financial worth $1,431,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BFH. Royal Bank of Canada acquired a new position in shares of Bread Financial during the 3rd quarter worth approximately $948,000. Macquarie Group Ltd. acquired a new position in shares of Bread Financial during the 3rd quarter worth approximately $44,000. BlackRock Inc. acquired a new position in shares of Bread Financial during the 3rd quarter worth approximately $153,464,000. Bank of New York Mellon Corp acquired a new position in shares of Bread Financial during the 3rd quarter worth approximately $21,151,000. Finally, First Trust Advisors LP acquired a new position in shares of Bread Financial during the 3rd quarter worth approximately $3,333,000. Institutional investors and hedge funds own 99.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BFH shares. The Goldman Sachs Group reduced their price target on Bread Financial from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, April 5th. 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 research note on Wednesday, April 5th. Royal Bank of Canada boosted their price target on Bread Financial from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods downgraded Bread Financial from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $35.00 to $30.00 in a research note on Tuesday, April 11th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.29.

Bread Financial Trading Up 2.0 %

Shares of BFH stock opened at $41.57 on Tuesday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 4.14, a PEG ratio of 0.11 and a beta of 1.92. The stock has a 50-day moving average of $32.49 and a 200-day moving average of $33.09. The company has a current ratio of 1.17, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. Bread Financial Holdings, Inc. has a 1-year low of $23.19 and a 1-year high of $45.67.

Bread Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 11th will be paid a $0.21 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.02%. Bread Financial’s payout ratio is 8.37%.

Insider Activity

In other Bread Financial news, major shareholder Turtle Creek Asset Management bought 150,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average price of $25.17 per share, for a total transaction of $3,775,500.00. Following the transaction, the insider now directly owns 4,495,972 shares in the company, valued at $113,163,615.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders purchased 568,911 shares of company stock valued at $15,310,418. Company insiders own 0.34% of the company’s stock.

Bread Financial Profile

(Free Report)

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.