Bread Financial (NYSE:BFH) Price Target Raised to $88.00

Bread Financial (NYSE:BFH) had its price target hoisted by Keefe, Bruyette & Woods from $67.00 to $88.00 in a research report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently issued reports on BFH. Barclays cut their target price on shares of Bread Financial from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Friday, October 25th. TD Cowen lifted their price objective on Bread Financial from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, October 28th. The Goldman Sachs Group increased their target price on Bread Financial from $52.00 to $58.00 and gave the stock a “sell” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price on Bread Financial from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Bank of America reduced their price target on shares of Bread Financial from $61.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.50.

Bread Financial Price Performance

Bread Financial stock opened at $66.32 on Monday. The business has a 50 day simple moving average of $55.26 and a 200 day simple moving average of $50.75. Bread Financial has a one year low of $28.00 and a one year high of $66.56. The company has a market capitalization of $3.30 billion, a PE ratio of 10.56 and a beta of 1.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.19 and a quick ratio of 1.19.

Bread Financial (NYSE:BFH) last issued its earnings results on Thursday, October 24th. The company reported $1.83 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.03). Bread Financial had a net margin of 6.37% and a return on equity of 13.33%. The firm had revenue of $983.00 million during the quarter, compared to analyst estimates of $981.26 million. During the same quarter in the prior year, the firm posted $3.46 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Bread Financial will post 7.49 EPS for the current fiscal year.

Bread Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 8th will be given a $0.21 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.84 annualized dividend and a dividend yield of 1.27%. Bread Financial’s dividend payout ratio is currently 13.38%.

Insider Activity

In other Bread Financial news, Director John J. Fawcett bought 1,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was purchased at an average cost of $51.02 per share, with a total value of $51,020.00. Following the completion of the purchase, the director now owns 6,473 shares in the company, valued at approximately $330,252.46. The trade was a 18.27 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.62% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bread Financial

Several institutional investors and hedge funds have recently modified their holdings of BFH. Dimensional Fund Advisors LP lifted its stake in Bread Financial by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,173,009 shares of the company’s stock valued at $141,386,000 after buying an additional 70,092 shares in the last quarter. State Street Corp lifted its position in Bread Financial by 2.1% in the 3rd quarter. State Street Corp now owns 2,034,554 shares of the company’s stock valued at $96,804,000 after acquiring an additional 41,012 shares in the last quarter. Millennium Management LLC boosted its stake in Bread Financial by 81.6% in the 2nd quarter. Millennium Management LLC now owns 1,464,195 shares of the company’s stock worth $65,245,000 after purchasing an additional 657,968 shares during the period. Victory Capital Management Inc. raised its stake in shares of Bread Financial by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,249,669 shares of the company’s stock valued at $55,685,000 after purchasing an additional 71,777 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Bread Financial by 22.4% in the second quarter. American Century Companies Inc. now owns 1,161,443 shares of the company’s stock valued at $51,754,000 after purchasing an additional 212,276 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.