KLP Kapitalforvaltning AS Buys New Shares in Bread Financial Holdings, Inc. (NYSE:BFH)

KLP Kapitalforvaltning AS acquired a new position in Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,000 shares of the company's stock, valued at approximately $611,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Bread Financial by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 730,531 shares of the company's stock worth $34,759,000 after buying an additional 13,484 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in Bread Financial during the 3rd quarter worth about $6,001,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Bread Financial by 64.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,631 shares of the company's stock worth $125,000 after acquiring an additional 1,033 shares during the period. Paloma Partners Management Co purchased a new position in Bread Financial during the 3rd quarter valued at about $747,000. Finally, Centiva Capital LP acquired a new position in shares of Bread Financial in the 3rd quarter valued at about $1,635,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Bread Financial Stock Performance

Bread Financial stock traded up $2.05 during trading hours on Monday, reaching $43.93. 3,422,445 shares of the company were exchanged, compared to its average volume of 852,160. Bread Financial Holdings, Inc. has a 12 month low of $32.10 and a 12 month high of $66.71. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 1.25 and a beta of 1.58. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $54.40 and a 200 day moving average of $56.07.

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

Bread Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, February 14th were paid a $0.21 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.91%. Bread Financial's payout ratio is presently 15.14%.

Bread Financial announced that its board has initiated a share buyback plan on Wednesday, March 5th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley downgraded shares of 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. JMP Securities restated a "market perform" rating on shares of Bread Financial in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on Bread Financial from $62.00 to $68.00 and gave the stock a "sector perform" rating in a report on Friday, January 31st. Compass Point lifted their price objective on Bread Financial from $75.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, Barclays boosted their target price on Bread Financial from $51.00 to $53.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $57.08.

Bread Financial Company Profile

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.