Nierenberg Investment Management Company Inc. Has $1.69 Million Stock Position in Bread Financial Holdings, Inc. (NYSE:BFH)

Nierenberg Investment Management Company Inc. reduced its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,680 shares of the company's stock after selling 19,000 shares during the period. Bread Financial comprises about 0.9% of Nierenberg Investment Management Company Inc.'s investment portfolio, making the stock its 15th biggest position. Nierenberg Investment Management Company Inc. owned 0.06% of Bread Financial worth $1,690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Bread Financial during the fourth quarter valued at approximately $23,740,000. Franklin Resources Inc. boosted its stake in Bread Financial by 31.1% in the 4th quarter. Franklin Resources Inc. now owns 1,207,404 shares of the company's stock valued at $73,724,000 after buying an additional 286,720 shares in the last quarter. Great Lakes Advisors LLC grew its position in Bread Financial by 5,654.9% in the fourth quarter. Great Lakes Advisors LLC now owns 256,151 shares of the company's stock valued at $15,641,000 after acquiring an additional 251,700 shares during the period. Allianz Asset Management GmbH raised its stake in Bread Financial by 44.5% during the fourth 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 in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Bread Financial by 6.8% during the fourth quarter. American Century Companies Inc. now owns 1,382,135 shares of the company's stock valued at $84,393,000 after acquiring an additional 88,081 shares during the period. Institutional investors own 99.52% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Bread Financial from $62.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Barclays lifted their target price on shares of Bread Financial from $51.00 to $53.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Compass Point increased their price target on Bread Financial from $75.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Morgan Stanley downgraded Bread Financial from an "overweight" rating to an "underweight" rating and set a $33.00 price objective for the company. in a research report on Monday, April 7th. Finally, The Goldman Sachs Group decreased their target price on Bread Financial from $68.00 to $58.00 and set a "sell" rating on the stock in a report on Tuesday, March 18th. Three equities 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 company's stock. Based on data from MarketBeat, Bread Financial presently has an average rating of "Hold" and a consensus price target of $57.08.

Bread Financial Trading Down 0.8 %

NYSE BFH traded down $0.35 during trading hours on Friday, hitting $44.04. The company's stock had a trading volume of 1,394,692 shares, compared to its average volume of 872,288. Bread Financial Holdings, Inc. has a twelve month low of $32.10 and a twelve month high of $66.71. The firm has a market capitalization of $2.12 billion, a P/E ratio of 7.93, a PEG ratio of 1.25 and a beta of 1.58. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $52.27 and a 200 day moving average of $55.87.

Bread Financial (NYSE:BFH - Get Free Report) last posted its quarterly 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%. Equities research analysts forecast that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Bread Financial Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, February 14th. Bread Financial's dividend payout ratio (DPR) is currently 15.14%.

Bread Financial 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.