Bread Financial (NYSE:BFH) Given New $57.00 Price Target at Bank of America

Bread Financial (NYSE:BFH) had its price objective reduced by Bank of America from $61.00 to $57.00 in a research report sent to investors on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on BFH. TD Cowen raised their price target on Bread Financial from $44.00 to $57.00 and gave the company a hold rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their target price 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. Jefferies Financial Group lifted their price objective on shares of Bread Financial from $35.00 to $45.00 and gave the company a hold rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reaffirmed an outperform rating and issued a $67.00 target price on shares of Bread Financial in a report on Monday, June 17th. Finally, Royal Bank of Canada lifted their price target on Bread Financial from $47.00 to $58.00 and gave the stock a sector perform rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $49.71.

Bread Financial Price Performance

Shares of BFH opened at $46.73 on Wednesday. The company has a 50 day moving average of $52.05 and a 200-day moving average of $44.41. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.32 billion, a P/E ratio of 5.89, a P/E/G ratio of 0.17 and a beta of 1.95. Bread Financial has a twelve month low of $26.08 and a twelve month high of $59.66.

Bread Financial (NYSE:BFH) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $1.06. The company had revenue of $939.00 million during the quarter, compared to the consensus estimate of $922.01 million. Bread Financial had a net margin of 9.77% and a return on equity of 16.24%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 EPS. As a group, equities research analysts forecast that Bread Financial will post 7.49 EPS for the current fiscal year.

Bread Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 9th were paid a $0.21 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. Bread Financial’s dividend payout ratio (DPR) is presently 10.58%.

Institutional Trading of Bread Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Bread Financial by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 5,847,645 shares of the company’s stock worth $217,766,000 after purchasing an additional 216,274 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Bread Financial by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,173,009 shares of the company’s stock worth $141,386,000 after buying an additional 70,092 shares in the last quarter. Wellington Management Group LLP increased its stake in Bread Financial by 7.8% during the 4th quarter. Wellington Management Group LLP now owns 2,107,253 shares of the company’s stock worth $69,413,000 after acquiring an additional 152,954 shares during the period. Millennium Management LLC raised its holdings in Bread Financial by 81.6% in the 2nd quarter. Millennium Management LLC now owns 1,464,195 shares of the company’s stock valued at $65,245,000 after acquiring an additional 657,968 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Bread Financial by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,249,669 shares of the company’s stock valued at $55,685,000 after acquiring an additional 71,777 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.