Prudential Financial Inc. Sells 11,998 Shares of Bread Financial Holdings, Inc. $BFH

Prudential Financial Inc. lessened its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,290 shares of the company’s stock after selling 11,998 shares during the quarter. Prudential Financial Inc.’s holdings in Bread Financial were worth $12,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BFH. Teacher Retirement System of Texas lifted its position in Bread Financial by 2.6% during the second quarter. Teacher Retirement System of Texas now owns 7,460 shares of the company’s stock valued at $426,000 after purchasing an additional 192 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Bread Financial by 1.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,951 shares of the company’s stock worth $683,000 after buying an additional 203 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Bread Financial by 2.5% in the second quarter. Envestnet Asset Management Inc. now owns 11,085 shares of the company’s stock worth $633,000 after buying an additional 269 shares during the period. Mackenzie Financial Corp lifted its position in shares of Bread Financial by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 40,918 shares of the company’s stock valued at $2,049,000 after buying an additional 296 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC grew its stake in shares of Bread Financial by 1.3% during the 2nd quarter. Castlekeep Investment Advisors LLC now owns 27,545 shares of the company’s stock valued at $1,573,000 after acquiring an additional 346 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BFH has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their target price on shares of Bread Financial from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, October 24th. Royal Bank Of Canada increased their price objective on shares of Bread Financial from $64.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. TD Cowen lifted their target price on shares of Bread Financial from $63.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, October 24th. Wall Street Zen downgraded shares of Bread Financial from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Barclays raised their price target on Bread Financial from $50.00 to $52.00 and gave the company an “underweight” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.00.

Bread Financial Stock Up 1.2%

BFH opened at $67.54 on Friday. The company has a market capitalization of $3.08 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 0.50 and a beta of 1.51. The firm has a 50-day simple moving average of $61.07 and a two-hundred day simple moving average of $59.43. The company has a quick ratio of 1.18, a current ratio of 1.19 and a debt-to-equity ratio of 0.33. Bread Financial Holdings, Inc. has a 52 week low of $38.21 and a 52 week high of $68.71.

Bread Financial (NYSE:BFH) last posted its earnings results on Thursday, October 23rd. The company reported $4.02 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $1.91. Bread Financial had a return on equity of 15.97% and a net margin of 10.08%.The company had revenue of $161.00 million for the quarter, compared to the consensus estimate of $974.30 million. During the same period in the previous year, the business earned $1.83 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Bread Financial has set its FY 2025 guidance at EPS. Analysts forecast that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 7th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, November 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Bread Financial’s previous quarterly dividend of $0.21. Bread Financial’s dividend payout ratio is currently 9.37%.

Bread Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

About Bread Financial

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.