Verition Fund Management LLC Reduces Holdings in Bread Financial Holdings, Inc. (NYSE:BFH)

Verition Fund Management LLC reduced its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH - Free Report) by 77.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,763 shares of the company's stock after selling 30,963 shares during the period. Verition Fund Management LLC's holdings in Bread Financial were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Bread Financial by 33.5% during the third quarter. GAMMA Investing LLC now owns 1,035 shares of the company's stock worth $49,000 after purchasing an additional 260 shares during the period. Pallas Capital Advisors LLC increased its stake in shares of Bread Financial by 6.2% in the third quarter. Pallas Capital Advisors LLC now owns 4,778 shares of the company's stock worth $239,000 after acquiring an additional 278 shares during the period. Arizona State Retirement System raised its holdings in shares of Bread Financial by 2.1% during the second quarter. Arizona State Retirement System now owns 13,836 shares of the company's stock worth $617,000 after purchasing an additional 279 shares during the last quarter. Natixis Advisors LLC lifted its position in Bread Financial by 2.8% during the third quarter. Natixis Advisors LLC now owns 13,421 shares of the company's stock valued at $639,000 after purchasing an additional 369 shares during the period. Finally, Point72 DIFC Ltd boosted its stake in shares of Bread Financial by 30.0% in the second quarter. Point72 DIFC Ltd now owns 1,721 shares of the company's stock worth $77,000 after buying an additional 397 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Bread Financial Stock Down 1.1 %

BFH traded down $0.75 on Friday, reaching $65.27. The company's stock had a trading volume of 622,654 shares, compared to its average volume of 839,135. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 10.39 and a beta of 1.96. Bread Financial Holdings, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $66.71. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $55.98 and a two-hundred day moving average of $51.02.

Bread Financial (NYSE:BFH - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.03). Bread Financial had a return on equity of 13.33% and a net margin of 6.37%. The company had revenue of $983.00 million for the quarter, compared to analyst estimates of $981.26 million. During the same quarter in the prior year, the business earned $3.46 earnings per share. Bread Financial's revenue was down 4.7% compared to the same quarter last year. As a group, analysts forecast that Bread Financial Holdings, Inc. will post 7.5 EPS for the current fiscal year.

Bread Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 8th will be given a $0.21 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.29%. Bread Financial's dividend payout ratio (DPR) is presently 13.38%.

Insiders Place Their Bets

In other Bread Financial news, Director John J. Fawcett bought 1,000 shares of Bread Financial stock in a transaction on Monday, October 28th. The stock was bought at an average price of $51.02 per share, with a total value of $51,020.00. Following the completion of the acquisition, the director now owns 6,473 shares in the company, valued at $330,252.46. The trade was a 18.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Bank of America lowered their price target on shares of Bread Financial from $61.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Keefe, Bruyette & Woods increased their price target on Bread Financial from $67.00 to $88.00 and gave the company an "outperform" rating in a report on Monday. Evercore ISI lifted their target price on shares of Bread Financial from $52.00 to $54.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. Barclays decreased their price target on Bread Financial from $35.00 to $34.00 and set an "underweight" rating on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bread Financial from $48.00 to $59.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bread Financial currently has a consensus rating of "Hold" and a consensus price target of $51.50.

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.