Exchange Traded Concepts LLC Buys 5,373 Shares of Bread Financial Holdings, Inc. (NYSE:BFH)

Exchange Traded Concepts LLC boosted its stake in Bread Financial Holdings, Inc. (NYSE:BFH) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,249 shares of the company’s stock after purchasing an additional 5,373 shares during the period. Exchange Traded Concepts LLC’s holdings in Bread Financial were worth $4,520,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Curat Global LLC bought a new stake in Bread Financial in the 1st quarter worth approximately $28,000. Picton Mahoney Asset Management grew its position in Bread Financial by 2,083.3% in the 4th quarter. Picton Mahoney Asset Management now owns 524 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the period. Pinnacle Holdings LLC bought a new stake in Bread Financial in the 4th quarter worth approximately $46,000. Versant Capital Management Inc grew its position in Bread Financial by 182.8% in the 1st quarter. Versant Capital Management Inc now owns 1,298 shares of the company’s stock worth $65,000 after purchasing an additional 839 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Bread Financial by 28.0% during the 1st quarter. GAMMA Investing LLC now owns 1,457 shares of the company’s stock worth $73,000 after acquiring an additional 319 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Bread Financial Stock Up 3.5%

BFH opened at $52.50 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.15 and a current ratio of 1.15. Bread Financial Holdings, Inc. has a fifty-two week low of $38.21 and a fifty-two week high of $66.71. The firm’s fifty day moving average is $50.03 and its 200 day moving average is $54.95. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.37.

Bread Financial (NYSE:BFH) last released its earnings results on Thursday, April 24th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.76. The company had revenue of $970.00 million for the quarter, compared to analysts’ expectations of $956.17 million. Bread Financial had a net margin of 5.75% and a return on equity of 12.41%. Bread Financial’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.73 EPS. On average, sell-side analysts forecast that Bread Financial Holdings, Inc. will post 6.45 earnings per share for the current fiscal year.

Bread Financial announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Bread Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.84 dividend on an annualized basis and a yield of 1.60%. Bread Financial’s dividend payout ratio is currently 14.92%.

Analyst Upgrades and Downgrades

BFH has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of Bread Financial from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of Bread Financial from $68.00 to $58.00 and set a “sell” rating on the stock in a research note on Tuesday, March 18th. JMP Securities reiterated a “market perform” rating on shares of Bread Financial in a research note on Monday, April 28th. Finally, Morgan Stanley lifted their price target on shares of Bread Financial from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, May 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.27.

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.