Rhumbline Advisers Cuts Stock Position in Bread Financial Holdings, Inc. $BFH

Rhumbline Advisers trimmed its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,928 shares of the company’s stock after selling 9,013 shares during the period. Rhumbline Advisers owned 0.31% of Bread Financial worth $8,221,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Curat Global LLC raised its stake in Bread Financial by 81,068.5% in the 2nd quarter. Curat Global LLC now owns 450,485 shares of the company’s stock valued at $25,732,000 after purchasing an additional 449,930 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Bread Financial by 45.0% during the first quarter. Wellington Management Group LLP now owns 1,320,418 shares of the company’s stock worth $66,127,000 after buying an additional 409,877 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Bread Financial by 104.8% during the first quarter. Goldman Sachs Group Inc. now owns 736,604 shares of the company’s stock worth $36,889,000 after buying an additional 376,920 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Bread Financial by 16.9% in the second quarter. Franklin Resources Inc. now owns 1,720,613 shares of the company’s stock valued at $98,281,000 after buying an additional 248,401 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Bread Financial by 33.7% in the second quarter. Allianz Asset Management GmbH now owns 652,856 shares of the company’s stock worth $37,291,000 after buying an additional 164,540 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Bread Financial Price Performance

Shares of NYSE BFH opened at $69.29 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.43 and a beta of 1.28. The stock’s 50-day moving average is $61.42 and its two-hundred day moving average is $59.78. Bread Financial Holdings, Inc. has a 1-year low of $38.21 and a 1-year high of $69.67.

Bread Financial (NYSE:BFH) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $4.02 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $1.91. Bread Financial had a net margin of 10.08% and a return on equity of 15.97%. The company had revenue of $161.00 million for the quarter, compared to the consensus estimate of $974.30 million. During the same period in the prior year, the firm posted $1.83 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts forecast that Bread Financial Holdings, Inc. will post 6.45 EPS for the current fiscal year.

Bread Financial declared that its board has approved a share repurchase plan on Wednesday, August 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Bread Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 7th will be given a $0.23 dividend. This is a boost from Bread Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. Bread Financial’s payout ratio is currently 9.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods reduced their price objective on Bread Financial from $88.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bread Financial in a report on Monday. Morgan Stanley set a $55.00 price objective on shares of Bread Financial and gave the company an “underweight” rating in a report on Friday, October 24th. The Goldman Sachs Group lifted their target price on shares of Bread Financial from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, October 24th. Finally, TD Cowen boosted their target price on shares of Bread Financial from $63.00 to $68.00 and gave the company a “hold” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.00.

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.