Bread Financial Holdings, Inc. (NYSE:BFH) Major Shareholder Buys 15,000 Shares

Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) major shareholder Turtle Creek Asset Management purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were acquired at an average cost of $29.50 per share, with a total value of $442,500.00. Following the completion of the purchase, the insider now owns 4,956,281 shares of the company’s stock, valued at $146,210,289.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Turtle Creek Asset Management also recently made the following trade(s):

• On Friday, May 19th, Turtle Creek Asset Management bought 5,850 shares of Bread Financial stock. The shares were acquired at an average price of $29.74 per share, with a total value of $173,979.00.
• On Wednesday, May 17th, Turtle Creek Asset Management purchased 103,950 shares of Bread Financial stock. The stock was bought at an average price of $29.69 per share, for a total transaction of $3,086,275.50.
• On Monday, May 15th, Turtle Creek Asset Management bought 113,973 shares of Bread Financial stock. The stock was bought at an average cost of $27.91 per share, for a total transaction of $3,180,986.43.
• On Friday, May 12th, Turtle Creek Asset Management bought 71,027 shares of Bread Financial stock. The shares were bought at an average price of $26.53 per share, with a total value of $1,884,346.31.
• On Wednesday, May 10th, Turtle Creek Asset Management purchased 75,000 shares of Bread Financial stock. The stock was purchased at an average price of $26.07 per share, for a total transaction of $1,955,250.00.
• On Monday, May 8th, Turtle Creek Asset Management bought 150,000 shares of Bread Financial stock. The stock was purchased at an average cost of $25.17 per share, with a total value of $3,775,500.00.
• On Thursday, May 4th, Turtle Creek Asset Management purchased 33,711 shares of Bread Financial stock. The stock was purchased at an average cost of $23.72 per share, with a total value of $799,624.92.

Bread Financial Stock Up 2.0 %

NYSE BFH traded up $0.58 during trading hours on Friday, hitting $29.71. 353,823 shares of the company traded hands, compared to its average volume of 864,327. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.20 and a current ratio of 1.20. The business’s 50-day moving average is $28.00 and its 200-day moving average is $35.06. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 3.18, a P/E/G ratio of 0.08 and a beta of 1.92. Bread Financial Holdings, Inc. has a twelve month low of $23.19 and a twelve month high of $55.87.

Bread Financial (NYSE:BFH – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The company reported $9.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $1.97. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.06 billion. Bread Financial had a return on equity of 19.35% and a net margin of 9.66%. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.21 earnings per share. Sell-side analysts anticipate that Bread Financial Holdings, Inc. will post 11.68 earnings per share for the current year.

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, May 12th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.83%. Bread Financial’s dividend payout ratio (DPR) is currently 8.99%.

Hedge Funds Weigh In On Bread Financial

Large investors have recently made changes to their positions in the company. IFP Advisors Inc bought a new position in shares of Bread Financial during the third quarter worth approximately $116,000. Ellevest Inc. increased its stake in Bread Financial by 61.0% during the 4th quarter. Ellevest Inc. now owns 702 shares of the company’s stock worth $26,000 after acquiring an additional 266 shares during the period. Rockefeller Capital Management L.P. increased its stake in Bread Financial by 169.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 842 shares of the company’s stock worth $31,000 after acquiring an additional 530 shares during the period. Ronald Blue Trust Inc. increased its stake in Bread Financial by 63.1% during the 4th quarter. Ronald Blue Trust Inc. now owns 848 shares of the company’s stock worth $27,000 after acquiring an additional 328 shares during the period. Finally, Macquarie Group Ltd. bought a new position in Bread Financial during the 3rd quarter worth $44,000. Institutional investors own 96.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BFH shares. The Goldman Sachs Group decreased their target price on Bread Financial from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, April 5th. Morgan Stanley decreased their target price on Bread Financial from $39.00 to $32.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. Keefe, Bruyette & Woods cut Bread Financial from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $35.00 to $30.00 in a research note on Tuesday, April 11th. Finally, Stephens reissued an “overweight” rating and issued a $64.00 target price on shares of Bread Financial in a research note on Friday, March 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.88.

About Bread Financial

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Bread Financial Holdings, Inc engages in the provision of payment, lending, and saving solutions. The firm also offers private label and co-brand credit cards and buy now, pay later products such as installment loans and split-pay offerings. The company was founded in 1996 and is headquartered in Columbus, OH.