State of Alaska Department of Revenue Sells 1,138 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Posted by Defense World Staff on Oct 17th, 2023

State of Alaska Department of Revenue lessened its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Free Report) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,000 shares of the company’s stock after selling 1,138 shares during the period. State of Alaska Department of Revenue owned 0.07% of Bread Financial worth $1,035,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Versor Investments LP lifted its holdings in shares of Bread Financial by 71.4% during the first quarter. Versor Investments LP now owns 19,544 shares of the company’s stock worth $593,000 after purchasing an additional 8,144 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of Bread Financial by 41.1% during the first quarter. Texas Permanent School Fund Corp now owns 47,190 shares of the company’s stock worth $1,431,000 after purchasing an additional 13,745 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Bread Financial by 13.4% during the second quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the company’s stock worth $826,000 after purchasing an additional 3,100 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Bread Financial by 56.5% during the first quarter. Nomura Asset Management Co. Ltd. now owns 1,440 shares of the company’s stock worth $44,000 after purchasing an additional 520 shares during the period. Finally, Check Capital Management Inc. CA lifted its holdings in Bread Financial by 1.9% in the first quarter. Check Capital Management Inc. CA now owns 390,648 shares of the company’s stock valued at $11,844,000 after buying an additional 7,329 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Bread Financial Trading Up 0.5 %

NYSE:BFH opened at $30.62 on Tuesday. 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 has a 50-day moving average of $35.52 and a 200-day moving average of $32.56. The company has a market cap of $1.54 billion, a PE ratio of 3.05, a PEG ratio of 0.09 and a beta of 1.96. Bread Financial Holdings, Inc. has a one year low of $23.19 and a one year high of $44.52.

Bread Financial (NYSE:BFH – Get Free Report) last posted its earnings results on Thursday, July 27th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.23 by $1.04. Bread Financial had a net margin of 10.05% and a return on equity of 20.52%. The company had revenue of $952.00 million during the quarter, compared to the consensus estimate of $0.41 million. As a group, equities research analysts expect that Bread Financial Holdings, Inc. will post 12.5 EPS for the current fiscal year.

Bread Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 11th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Thursday, August 10th. Bread Financial’s payout ratio is 8.37%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BFH. The Goldman Sachs Group lowered shares of Bread Financial from a “neutral” rating to a “sell” rating and dropped their target price for the company from $44.00 to $32.00 in a report on Monday, October 2nd. Raymond James restated a “sector perform” rating and issued a $43.00 target price (down previously from $46.00) on shares of Bread Financial in a report on Tuesday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Bread Financial from $41.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, August 22nd. Morgan Stanley dropped their price objective on shares of Bread Financial from $37.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 3rd. Finally, Bank of America lowered shares of Bread Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $44.00 to $36.00 in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.33.

View Our Latest Research Report on BFH

Insiders Place Their Bets

In other news, Director Roger H. Ballou acquired 2,400 shares of Bread Financial stock in a transaction on Monday, July 31st. The stock was acquired at an average cost of $41.78 per share, with a total value of $100,272.00. Following the transaction, the director now owns 34,842 shares of the company’s stock, valued at approximately $1,455,698.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by 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.