State of Michigan Retirement System Buys Shares of 12,557 Bread Financial Holdings, Inc. (NYSE:BFH)

State of Michigan Retirement System bought a new stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,557 shares of the company’s stock, valued at approximately $395,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BFH. Thompson Investment Management Inc. purchased a new position in Bread Financial during the 3rd quarter valued at about $6,391,000. Courant Investment Management LLC purchased a new position in Bread Financial during the 3rd quarter valued at about $2,267,000. Chicago Capital LLC purchased a new position in Bread Financial during the 3rd quarter valued at about $701,000. Cubic Asset Management LLC acquired a new stake in shares of Bread Financial during the 3rd quarter valued at about $435,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Bread Financial during the 3rd quarter valued at about $418,000. Hedge funds and other institutional investors own 96.62% of the company’s stock.

Bread Financial Stock Up 1.9 %

BFH opened at $41.11 on Monday. The business has a 50 day moving average price of $38.25 and a 200 day moving average price of $37.79. Bread Financial Holdings, Inc. has a twelve month low of $28.85 and a twelve month high of $75.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $2.05 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of 0.20 and a beta of 1.96.

Bread Financial (NYSE:BFH – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $2.69 EPS for the quarter, hitting the consensus estimate of $2.69. The company had revenue of $979.00 million for the quarter, compared to the consensus estimate of $976.21 million. Bread Financial had a return on equity of 18.52% and a net margin of 9.43%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $4.47 EPS. Research analysts forecast that Bread Financial Holdings, Inc. will post 3.46 EPS for the current year.

Bread Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Monday, November 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Thursday, November 10th. Bread Financial’s dividend payout ratio is currently 11.23%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BFH. Credit Suisse Group lifted their price target on Bread Financial from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, October 28th. Morgan Stanley reduced their price target on Bread Financial from $45.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, October 5th. Royal Bank of Canada lifted their price target on Bread Financial from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, October 28th. JPMorgan Chase & Co. lifted their price target on Bread Financial from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, October 25th. Finally, The Goldman Sachs Group boosted their target price on Bread Financial from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, October 28th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Bread Financial Profile

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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 approximately 130 private label and co-brand credit card programs, as well as through Bread partnerships to approximately 500 small-and medium-sized businesses merchants; and Comenity-branded general purpose cash-back credit.