State of Alaska Department of Revenue Cuts Stock Position in Bread Financial Holdings, Inc. (NYSE:BFH)

State of Alaska Department of Revenue reduced its position in Bread Financial Holdings, Inc. (NYSE:BFH) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,340 shares of the company’s stock after selling 930 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Bread Financial worth $999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its stake in shares of Bread Financial by 42.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,011 shares of the company’s stock valued at $38,000 after acquiring an additional 300 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Bread Financial by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,161 shares of the company’s stock valued at $633,000 after acquiring an additional 350 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Bread Financial by 169.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 842 shares of the company’s stock valued at $31,000 after acquiring an additional 530 shares during the last quarter. Vista Investment Management lifted its stake in shares of Bread Financial by 2.8% in the 2nd quarter. Vista Investment Management now owns 22,416 shares of the company’s stock valued at $704,000 after acquiring an additional 606 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in shares of Bread Financial by 1.4% in the 4th quarter. Credit Suisse AG now owns 44,220 shares of the company’s stock valued at $1,665,000 after acquiring an additional 621 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Turtle Creek Asset Management sold 45,000 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $35.67, for a total transaction of $1,605,150.00. Following the transaction, the insider now directly owns 293,092 shares of the company’s stock, valued at approximately $10,454,591.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 220,000 shares of company stock valued at $7,134,850 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Evercore ISI lowered Bread Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $29.00 to $33.00 in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. upped their price target on Bread Financial from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. BMO Capital Markets lowered their price target on Bread Financial from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 target price on shares of Bread Financial in a report on Friday, January 26th. Finally, Barclays cut their price target on Bread Financial from $27.00 to $26.00 and set an “underweight” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Bread Financial presently has an average rating of “Hold” and an average target price of $36.00.

Bread Financial Stock Performance

Shares of BFH opened at $36.19 on Wednesday. The business’s fifty day simple moving average is $36.87 and its two-hundred day simple moving average is $32.87. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.48. Bread Financial Holdings, Inc. has a 12 month low of $23.19 and a 12 month high of $41.89. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 2.53, a P/E/G ratio of 0.17 and a beta of 1.93.

Bread Financial (NYSE:BFH) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of ($0.67) by $1.57. The firm had revenue of $1,000.00 million for the quarter, compared to analysts’ expectations of $984.36 million. Bread Financial had a return on equity of 26.24% and a net margin of 13.87%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.68) EPS. Research analysts anticipate that Bread Financial Holdings, Inc. will post 7.12 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 9th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.32%. Bread Financial’s payout ratio is 5.87%.

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.