Bread Financial Holdings, Inc. $BFH Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Bread Financial Holdings, Inc. (NYSE:BFH) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,907 shares of the company’s stock after selling 17,177 shares during the period. Bank of New York Mellon Corp’s holdings in Bread Financial were worth $28,901,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BFH. Calamos Advisors LLC acquired a new stake in shares of Bread Financial in the first quarter valued at $366,000. Principal Financial Group Inc. grew its stake in shares of Bread Financial by 82.3% in the 1st quarter. Principal Financial Group Inc. now owns 396,691 shares of the company’s stock worth $29,708,000 after purchasing an additional 179,059 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Bread Financial by 5,814.5% in the 1st quarter. Fifth Third Bancorp now owns 17,566 shares of the company’s stock worth $1,315,000 after purchasing an additional 17,269 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Bread Financial by 14.7% in the 1st quarter. Hsbc Holdings PLC now owns 1,009,890 shares of the company’s stock worth $74,667,000 after purchasing an additional 129,774 shares in the last quarter. Finally, Abel Hall LLC raised its holdings in shares of Bread Financial by 21.6% in the 1st quarter. Abel Hall LLC now owns 3,413 shares of the company’s stock worth $256,000 after purchasing an additional 607 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Insiders Place Their Bets

In other news, Director John J. Fawcett purchased 698 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $86.43 per share, with a total value of $60,328.14. Following the purchase, the director directly owned 11,000 shares of the company’s stock, valued at approximately $950,730. This trade represents a 6.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph J. Andretta sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $89.10, for a total value of $1,336,500.00. Following the sale, the chief executive officer directly owned 582,241 shares of the company’s stock, valued at $51,877,673.10. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BFH. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Bread Financial in a report on Wednesday, June 10th. Barclays upped their price target on Bread Financial from $104.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday. TD Cowen increased their price objective on Bread Financial from $103.00 to $114.00 and gave the company a “hold” rating in a research report on Friday. Loop Capital assumed coverage on Bread Financial in a research note on Thursday, May 21st. They set a “buy” rating and a $104.00 price objective for the company. Finally, Morgan Stanley set a $107.00 target price on Bread Financial in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $110.00.

Bread Financial Trading Up 1.3%

NYSE:BFH opened at $105.68 on Tuesday. The stock has a market cap of $4.27 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. Bread Financial Holdings, Inc. has a fifty-two week low of $53.83 and a fifty-two week high of $109.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.17 and a quick ratio of 1.15. The stock’s 50-day moving average is $97.74 and its two-hundred day moving average is $84.38.

Bread Financial (NYSE:BFH) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.81. The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $959.32 million. Bread Financial had a net margin of 11.95% and a return on equity of 18.42%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.15 earnings per share. As a group, equities research analysts forecast that Bread Financial Holdings, Inc. will post 11.31 earnings per share for the current fiscal year.

Bread Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 31st. Bread Financial’s payout ratio is currently 7.18%.

About Bread Financial

Bread Financial, formerly known as Alliance Data Systems, is a Columbus, Ohio–based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners. The company designs, issues and services proprietary credit products, enabling merchants to offer branded financing options that drive customer loyalty and increase basket sizes at the point of sale. Through its Bread technology platform, Bread Financial delivers installment-based payment options that integrate directly into e-commerce and in-store checkout experiences.

In addition to its core credit offerings, Bread Financial provides analytics, marketing and loyalty services to help merchants better understand consumer behavior and optimize promotional strategies.