Federated Hermes Inc. Cuts Holdings in Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by Defense World Staff on Aug 23rd, 2023

Federated Hermes Inc. cut its holdings in Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 55.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,513 shares of the company’s stock after selling 19,593 shares during the quarter. Federated Hermes Inc.’s holdings in Bread Financial were worth $470,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BFH. Vanguard Group Inc. purchased a new position in Bread Financial in the third quarter valued at about $155,419,000. BlackRock Inc. purchased a new position in Bread Financial in the 3rd quarter valued at approximately $153,464,000. State Street Corp acquired a new position in Bread Financial during the third quarter worth $52,807,000. Dimensional Fund Advisors LP boosted its position in Bread Financial by 30.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,338,711 shares of the company’s stock worth $50,414,000 after purchasing an additional 312,717 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Bread Financial by 147,438.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,251,125 shares of the company’s stock valued at $47,117,000 after purchasing an additional 1,250,277 shares during the last quarter. Institutional investors and hedge funds own 99.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BFH shares. Royal Bank of Canada boosted their price objective on shares of Bread Financial from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Bread Financial from $41.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.43.

View Our Latest Stock Analysis on BFH

Bread Financial Price Performance

Bread Financial stock opened at $36.51 on Wednesday. The stock has a market capitalization of $1.83 billion, a P/E ratio of 3.64, a P/E/G ratio of 0.09 and a beta of 1.97. Bread Financial Holdings, Inc. has a 12-month low of $23.19 and a 12-month high of $44.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50-day moving average is $35.39 and its two-hundred day moving average is $33.03.

Bread Financial (NYSE:BFH – Get Free Report) last announced its earnings results on Thursday, July 27th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $1.04. Bread Financial had a net margin of 10.05% and a return on equity of 20.52%. The firm had revenue of $952.00 million for the quarter, compared to analyst estimates of $0.41 million. Equities analysts predict that Bread Financial Holdings, Inc. will post 12.8 earnings per share for the current year.

Bread Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 yield of 2.30%. Bread Financial’s payout ratio is currently 8.37%.

Insiders Place Their Bets

In related news, Director Roger H. Ballou acquired 2,400 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $41.78 per share, with a total value of $100,272.00. Following the purchase, the director now directly owns 34,842 shares in the company, valued at approximately $1,455,698.76. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by corporate insiders.

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.