Bread Financial (NYSE:BFH) Price Target Cut to $57.00

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

Other analysts have also recently issued research reports about the company. Royal Bank of Canada increased their target price on Bread Financial from $47.00 to $58.00 and gave the stock a sector perform rating in a report on Friday, July 26th. JMP Securities restated a market perform rating on shares of Bread Financial in a research report on Thursday, June 20th. 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 research note on Tuesday, August 20th. The Goldman Sachs Group increased their price target on shares of Bread Financial from $40.00 to $53.00 and gave the company a sell rating in a research note on Monday, July 29th. Finally, Evercore ISI upgraded shares of Bread Financial from an underperform rating to an in-line rating and boosted their price objective for the stock from $42.00 to $45.00 in a research report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $49.71.

Bread Financial Price Performance

NYSE:BFH opened at $46.73 on Wednesday. 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 firm has a market cap of $2.32 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 0.17 and a beta of 1.95. Bread Financial has a 12 month low of $26.08 and a 12 month high of $59.66. The company’s 50-day moving average price is $52.05 and its two-hundred day moving average price is $44.41.

Bread Financial (NYSE:BFH) last announced its earnings results on Thursday, July 25th. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $1.60 by $1.06. Bread Financial had a return on equity of 16.24% and a net margin of 9.77%. The business had revenue of $939.00 million for the quarter, compared to the consensus estimate of $922.01 million. During the same period in the previous year, the business earned $1.27 EPS. Bread Financial’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Bread Financial will post 7.49 EPS for the current fiscal year.

Bread Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. Bread Financial’s payout ratio is currently 10.58%.

Institutional Trading of Bread Financial

Hedge funds have recently modified their holdings of the company. Arizona State Retirement System increased its stake in Bread Financial by 2.1% in the second quarter. Arizona State Retirement System now owns 13,836 shares of the company’s stock valued at $617,000 after purchasing an additional 279 shares in the last quarter. Point72 DIFC Ltd increased its position in shares of Bread Financial by 30.0% in the 2nd quarter. Point72 DIFC Ltd now owns 1,721 shares of the company’s stock valued at $77,000 after buying an additional 397 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Bread Financial by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,900 shares of the company’s stock worth $1,110,000 after buying an additional 500 shares during the period. CWM LLC lifted its holdings in Bread Financial by 47.5% during the second quarter. CWM LLC now owns 1,708 shares of the company’s stock worth $76,000 after acquiring an additional 550 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in shares of Bread Financial by 3.3% in the second quarter. Ensign Peak Advisors Inc now owns 18,592 shares of the company’s stock worth $828,000 after acquiring an additional 600 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.