American Century Companies Inc. Boosts Stake in Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by Defense World Staff on Sep 2nd, 2023

American Century Companies Inc. boosted its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 487,777 shares of the company’s stock after purchasing an additional 83,033 shares during the period. American Century Companies Inc. owned about 0.97% of Bread Financial worth $14,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada purchased a new position in shares of Bread Financial during the 3rd quarter worth $948,000. Macquarie Group Ltd. bought a new stake in Bread Financial in the 3rd quarter worth approximately $44,000. BlackRock Inc. bought a new stake in Bread Financial in the third quarter worth $153,464,000. Bank of New York Mellon Corp purchased a new stake in shares of Bread Financial during the 3rd quarter valued at about $21,151,000. Finally, First Trust Advisors LP purchased a new stake in Bread Financial during the third quarter valued at approximately $3,333,000. 99.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Roger H. Ballou acquired 2,400 shares of the business’s stock in a transaction on 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 completion of the acquisition, the director now owns 34,842 shares of the company’s stock, valued at $1,455,698.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BFH shares. Royal Bank of Canada raised their target price on shares of Bread Financial from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. JPMorgan Chase & Co. upped their target price on Bread Financial from $41.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.43.

Check Out Our Latest Report on Bread Financial

Bread Financial Price Performance

NYSE BFH opened at $38.70 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $1.94 billion, a P/E ratio of 3.85, 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 firm’s fifty day simple moving average is $36.53 and its two-hundred day simple moving average is $32.94.

Bread Financial (NYSE:BFH – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $1.04. Bread Financial had a return on equity of 20.52% and a net margin of 10.05%. The company had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $0.41 million. Analysts forecast that Bread Financial Holdings, Inc. will post 12.92 EPS for the current fiscal year.

Bread Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 11th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, August 10th. Bread Financial’s dividend payout ratio is currently 8.37%.

About Bread Financial

(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.