Key Points
- Director John Fawcett purchased 5,000 Bread Financial shares at $24.70 each, investing $123,500 and becoming a direct shareholder.
- Bread Financial exceeded quarterly expectations, reporting $3.84 in EPS versus the $3.34 consensus estimate and revenue of $1.02 billion, up 4.7% year over year.
- The company raised its quarterly dividend to $0.25 per share, equivalent to $1.00 annually and a 1.0% yield; analysts maintained a mixed outlook, with an average “Hold” rating and a $112.21 price target.
Bread Financial Holdings, Inc. (NYSE:BFH - Get Free Report) Director John Fawcett acquired 5,000 shares of the stock in a transaction dated Wednesday, October 28th. The stock was acquired at an average price of $24.70 per share, for a total transaction of $123,500.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $123,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.
Bread Financial Stock Performance
BFH opened at $103.07 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.24. Bread Financial Holdings, Inc. has a 12-month low of $59.26 and a 12-month high of $114.53. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 0.81 and a beta of 1.15. The company's 50 day moving average is $103.82 and its 200 day moving average is $91.61.
Bread Financial (NYSE:BFH - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.50. Bread Financial had a net margin of 11.19% and a return on equity of 17.24%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the company posted $4.02 EPS. The company's revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Bread Financial Holdings, Inc. will post 12.51 EPS for the current year.
Bread Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. This is an increase from Bread Financial's previous quarterly dividend of $0.23. Bread Financial's payout ratio is 7.89%.
Wall Street Analyst Weigh In
Several research firms have issued reports on BFH. Weiss Ratings reissued a "buy (b)" rating on shares of Bread Financial in a report on Thursday, October 22nd. UBS Group raised their price objective on Bread Financial from $120.00 to $127.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Zacks Research cut Bread Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Barclays cut their price objective on Bread Financial from $110.00 to $107.00 and set an "equal weight" rating for the company in a research note on Friday, October 23rd. Finally, Morgan Stanley set a $107.00 target price on shares of Bread Financial in a report on Friday, July 24th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $112.21.
Get Our Latest Analysis on BFH
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Bread Financial in the 2nd quarter worth $421,314,000. Dimensional Fund Advisors LP raised its holdings in Bread Financial by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,086,060 shares of the company's stock valued at $231,111,000 after acquiring an additional 9,854 shares during the period. Hsbc Holdings PLC lifted its position in shares of Bread Financial by 14.7% in the first quarter. Hsbc Holdings PLC now owns 1,009,890 shares of the company's stock valued at $74,667,000 after acquiring an additional 129,774 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Bread Financial by 18.1% in the first quarter. Bank of America Corp DE now owns 630,225 shares of the company's stock valued at $47,198,000 after acquiring an additional 96,771 shares in the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of Bread Financial in the third quarter worth about $55,054,000. Hedge funds and other institutional investors own 99.52% of the company's stock.
Bread Financial Company Profile
(
Get Free Report)
Bread Financial Holdings, Inc (NYSE: BFH) is a financial services company that provides payment, lending and savings solutions to consumers and businesses. Its offerings include private-label and co-branded credit cards, installment lending, buy now, pay later services and deposit products.
The company operates through its Bread platform, which supports merchants with financing options, payment processing and customer loyalty solutions. Its consumer products have included Bread Cashback credit cards, Bread Pay installment payment services and Bread Savings deposit accounts.
Bread Financial primarily serves consumers and merchants in the United States, with solutions designed for retail, travel, home improvement and other industries.
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