Bryce Point Capital LLC Takes Position in Bread Financial Holdings, Inc. (NYSE:BFH)

Bryce Point Capital LLC bought a new position in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,907 shares of the company's stock, valued at approximately $910,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Bread Financial in the 4th quarter worth $23,740,000. Franklin Resources Inc. lifted its position in shares of Bread Financial by 31.1% in the fourth quarter. Franklin Resources Inc. now owns 1,207,404 shares of the company's stock worth $73,724,000 after buying an additional 286,720 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Bread Financial by 30.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,121,329 shares of the company's stock valued at $53,353,000 after buying an additional 260,283 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in Bread Financial by 5,654.9% during the 4th quarter. Great Lakes Advisors LLC now owns 256,151 shares of the company's stock valued at $15,641,000 after buying an additional 251,700 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Bread Financial by 44.5% in the 4th quarter. Allianz Asset Management GmbH now owns 474,660 shares of the company's stock worth $28,983,000 after acquiring an additional 146,244 shares during the last quarter. Institutional investors own 99.52% of the company's stock.

Wall Street Analyst Weigh In

BFH has been the subject of a number of research reports. Compass Point increased their target price on Bread Financial from $75.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Bread Financial from $67.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. The Goldman Sachs Group decreased their target price on shares of Bread Financial from $68.00 to $58.00 and set a "sell" rating on the stock in a research report on Tuesday, March 18th. Royal Bank of Canada lifted their price target on Bread Financial from $62.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Finally, Morgan Stanley downgraded Bread Financial from an "overweight" rating to an "underweight" rating and set a $33.00 price objective on the stock. in a research report on Monday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bread Financial has a consensus rating of "Hold" and an average target price of $57.08.

Remove Ads

Bread Financial Trading Up 1.0 %

Bread Financial stock traded up $0.45 during trading hours on Tuesday, hitting $44.37. The company had a trading volume of 462,863 shares, compared to its average volume of 850,733. Bread Financial Holdings, Inc. has a 1 year low of $32.10 and a 1 year high of $66.71. The firm has a market cap of $2.14 billion, a P/E ratio of 8.00, a P/E/G ratio of 1.25 and a beta of 1.58. The company has a 50-day moving average price of $54.40 and a two-hundred day moving average price of $56.07. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.15 and a current ratio of 1.15.

Bread Financial (NYSE:BFH - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. On average, sell-side analysts anticipate that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current year.

Bread Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Bread Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, February 14th. Bread Financial's payout ratio is 15.14%.

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.