Bread Financial (NYSE:BFH) Shares Up 3.7% – Time to Buy?

Bread Financial Holdings, Inc. (NYSE:BFH)’s share price traded up 3.7% on Thursday . The company traded as high as $102.27 and last traded at $102.8490. 120,013 shares traded hands during trading, a decline of 83% from the average session volume of 703,712 shares. The stock had previously closed at $99.19.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $115.00 target price on shares of Bread Financial in a report on Friday, July 24th. BTIG Research lifted their price objective on shares of Bread Financial from $105.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Seaport Research Partners reiterated a “buy” rating and issued a $119.00 price objective on shares of Bread Financial in a research report on Monday, July 27th. The Goldman Sachs Group boosted their price objective on shares of Bread Financial from $94.00 to $108.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Finally, TD Cowen upped their price objective on shares of Bread Financial from $103.00 to $114.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.29.

Bread Financial Trading Up 2.2%

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average is $107.02 and its 200 day moving average is $94.55. The stock has a market cap of $3.89 billion, a PE ratio of 7.90, a P/E/G ratio of 0.64 and a beta of 1.10.

Bread Financial (NYSE:BFH) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $3.55 EPS for the quarter, topping the consensus estimate of $2.74 by $0.81. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $959.32 million. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%.The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.15 EPS. As a group, analysts predict that Bread Financial Holdings, Inc. will post 12.12 earnings per share for the current year.

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 31st. Bread Financial’s payout ratio is presently 7.18%.

Insiders Place Their Bets

In other news, Director Praniti Lakhwara sold 2,802 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $106.12, for a total value of $297,348.24. Following the completion of the transaction, the director owned 4,458 shares in the company, valued at $473,082.96. This trade represents a 38.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Bread Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. purchased a new position in Bread Financial during the 2nd quarter valued at about $30,000. Pacer Advisors Inc. lifted its holdings in shares of Bread Financial by 58.7% in the first quarter. Pacer Advisors Inc. now owns 614 shares of the company’s stock valued at $46,000 after purchasing an additional 227 shares in the last quarter. IFP Advisors Inc grew its position in shares of Bread Financial by 125.8% in the second quarter. IFP Advisors Inc now owns 490 shares of the company’s stock valued at $53,000 after purchasing an additional 273 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Bread Financial during the 2nd quarter worth approximately $74,000. Finally, Group One Trading LLC acquired a new position in shares of Bread Financial during the 2nd quarter worth approximately $102,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

About Bread Financial

Bread Financial Corporation (NYSE: BFH) is a financial services company that provides payment, lending and savings solutions for consumers and businesses. Its offerings include private-label and co-branded credit cards, installment loans, buy now, pay later financing and direct-to-consumer savings products.

The company works with retailers and brands to design and manage customized credit programs, including account servicing, underwriting, transaction processing and customer engagement services.