Louisiana State Employees Retirement System Makes New $814,000 Investment in Bread Financial Holdings, Inc. (NYSE:BFH)

Louisiana State Employees Retirement System purchased a new position in Bread Financial Holdings, Inc. (NYSE:BFH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 24,700 shares of the company’s stock, valued at approximately $814,000. Louisiana State Employees Retirement System owned about 0.05% of Bread Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BFH. Exchange Traded Concepts LLC purchased a new position in shares of Bread Financial in the third quarter worth $671,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Bread Financial in the third quarter worth $187,000. Bank of New York Mellon Corp raised its holdings in shares of Bread Financial by 33.5% in the third quarter. Bank of New York Mellon Corp now owns 1,055,263 shares of the company’s stock worth $36,090,000 after buying an additional 265,060 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Bread Financial by 5.3% in the third quarter. New York State Teachers Retirement System now owns 75,981 shares of the company’s stock worth $2,599,000 after buying an additional 3,840 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Bread Financial by 23.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,156 shares of the company’s stock worth $347,000 after purchasing an additional 1,903 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

BFH has been the subject of several recent research reports. Barclays reduced their target price on shares of Bread Financial from $27.00 to $26.00 and set an “underweight” rating for the company in a report on Tuesday, April 9th. Evercore ISI cut shares of Bread Financial from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $29.00 to $33.00 in a report on Wednesday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 target price on shares of Bread Financial in a report on Friday, January 26th. JPMorgan Chase & Co. raised their price target on shares of Bread Financial from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, BMO Capital Markets raised their price target on shares of Bread Financial from $31.00 to $33.00 and gave the company a “market perform” rating in a research report on Friday. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Bread Financial currently has an average rating of “Hold” and an average price target of $36.64.

Insider Activity

In related news, major shareholder Turtle Creek Asset Management sold 45,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were 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 in the company, valued at $10,454,591.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.62% of the company’s stock.

Bread Financial Stock Up 0.9 %

Shares of NYSE BFH opened at $36.98 on Friday. The company’s 50-day simple moving average is $36.52 and its 200-day simple moving average is $33.06. Bread Financial Holdings, Inc. has a 52-week low of $23.19 and a 52-week high of $41.89. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 2.58, a price-to-earnings-growth ratio of 0.13 and a beta of 1.93. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.48.

Bread Financial (NYSE:BFH) last announced its earnings results on Thursday, April 25th. The company reported $2.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($0.19). Bread Financial had a net margin of 13.87% and a return on equity of 26.24%. The company had revenue of $991.00 million during the quarter, compared to analyst estimates of $998.96 million. During the same quarter last year, the business earned $9.08 EPS. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. Equities analysts predict that Bread Financial Holdings, Inc. will post 6.8 EPS for the current fiscal year.

Bread Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be given a $0.21 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.84 annualized dividend and a dividend yield of 2.27%. Bread Financial’s dividend payout ratio (DPR) is 5.87%.

Bread Financial Company Profile

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.