Truist Financial Corp Buys New Shares in Bread Financial Holdings, Inc. (NYSE:BFH)

Truist Financial Corp bought a new stake in Bread Financial Holdings, Inc. (NYSE:BFH – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,107 shares of the company’s stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors have also modified their holdings of BFH. Whittier Trust Co. purchased a new stake in Bread Financial during the 3rd quarter worth $84,000. State of Alaska Department of Revenue purchased a new stake in shares of Bread Financial in the third quarter worth about $224,000. Xponance Inc. acquired a new stake in shares of Bread Financial in the third quarter valued at about $244,000. New Mexico Educational Retirement Board purchased a new stake in shares of Bread Financial during the 3rd quarter valued at about $245,000. Finally, Trellus Management Company LLC purchased a new stake in shares of Bread Financial during the 3rd quarter valued at about $315,000. 96.62% of the stock is owned by institutional investors and hedge funds.

Bread Financial Trading Up 0.9 %

Shares of NYSE BFH opened at $40.67 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $38.52 and its two-hundred day moving average price is $37.84. Bread Financial Holdings, Inc. has a 52-week low of $28.85 and a 52-week high of $74.80. The stock has a market capitalization of $2.03 billion, a P/E ratio of 5.44, a PEG ratio of 0.19 and a beta of 1.96.

Bread Financial (NYSE:BFH – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported $2.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.69. The business had revenue of $979.00 million for the quarter, compared to analyst estimates of $976.21 million. Bread Financial had a return on equity of 18.52% and a net margin of 9.43%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.47 EPS. On average, analysts anticipate that Bread Financial Holdings, Inc. will post 3.63 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Monday, November 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, November 10th. Bread Financial’s dividend payout ratio (DPR) is presently 11.23%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Bread Financial from $54.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, October 25th. Stephens raised shares of Bread Financial from an “equal weight” rating to an “overweight” rating and set a $64.00 price target on the stock in a research note on Thursday, January 5th. TheStreet raised shares of Bread Financial from a “d+” rating to a “c-” rating in a research report on Thursday, October 27th. The Goldman Sachs Group lifted their target price on Bread Financial from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, October 28th. Finally, Royal Bank of Canada increased 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Bread Financial currently has an average rating of “Moderate Buy” and an average price target of $53.00.

Bread Financial Profile

(Get Rating)

Bread Financial Holdings, Inc engages in the provision of data-driven and transaction-based marketing, customer loyalty and payment solutions. Its products and services include credit cards, loan financing, processing, and servicing, marketing, data and analytics, and digital offerings. The company was founded in 1996 and is headquartered in Columbus, OH.