Bread Financial (NYSE:BFH) Stock Price Down 10% – Here’s What Happened

Shares of Bread Financial Holdings, Inc. (NYSE:BFH) fell 10% during trading on Wednesday . The stock traded as low as $94.25 and last traded at $92.1360. 327,139 shares traded hands during trading, a decline of 57% from the average daily volume of 761,453 shares. The stock had previously closed at $102.36.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BFH. Royal Bank Of Canada upped their target price on shares of Bread Financial from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Friday, June 12th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Bread Financial in a research report on Wednesday, June 10th. TD Cowen boosted their price objective on shares of Bread Financial from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday. Weiss Ratings raised Bread Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Finally, UBS Group increased their target price on Bread Financial from $94.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Bread Financial has an average rating of “Hold” and an average target price of $107.92.

Bread Financial Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.15 and a quick ratio of 1.15. The business’s 50 day moving average price is $94.23 and its 200 day moving average price is $82.33. The stock has a market capitalization of $3.91 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 0.83 and a beta of 1.10.

Bread Financial (NYSE:BFH) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $1.18. Bread Financial had a net margin of 11.90% and a return on equity of 18.79%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $992.05 million. During the same quarter in the prior year, the firm earned $2.86 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Bread Financial Holdings, Inc. will post 10.96 EPS for the current year.

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. Bread Financial’s dividend payout ratio is currently 7.53%.

Insider Transactions at Bread Financial

In other Bread Financial news, Director John J. Fawcett acquired 698 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were bought at an average price of $86.43 per share, with a total value of $60,328.14. Following the completion of the acquisition, the director owned 11,000 shares in the company, valued at $950,730. This represents a 6.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph J. Andretta sold 15,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $89.10, for a total value of $1,336,500.00. Following the completion of the sale, the chief executive officer owned 582,241 shares of the company’s stock, valued at $51,877,673.10. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Bread Financial

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Bread Financial by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,589 shares of the company’s stock valued at $1,482,000 after buying an additional 1,286 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Bread Financial by 46.5% in the first quarter. Millennium Management LLC now owns 345,902 shares of the company’s stock worth $17,323,000 after acquiring an additional 109,864 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Bread Financial by 104.8% in the first quarter. Goldman Sachs Group Inc. now owns 736,604 shares of the company’s stock worth $36,889,000 after acquiring an additional 376,920 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Bread Financial by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,833 shares of the company’s stock worth $7,904,000 after purchasing an additional 4,624 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Bread Financial during the first quarter worth about $65,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

About Bread Financial

Bread Financial, formerly known as Alliance Data Systems, is a Columbus, Ohio–based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners. The company designs, issues and services proprietary credit products, enabling merchants to offer branded financing options that drive customer loyalty and increase basket sizes at the point of sale. Through its Bread technology platform, Bread Financial delivers installment-based payment options that integrate directly into e-commerce and in-store checkout experiences.

In addition to its core credit offerings, Bread Financial provides analytics, marketing and loyalty services to help merchants better understand consumer behavior and optimize promotional strategies.