Point72 Asset Management L.P. Increases Holdings in Bread Financial Holdings, Inc. (NYSE:BFH)

Point72 Asset Management L.P. lifted its position in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 550.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 462,307 shares of the company’s stock after buying an additional 391,272 shares during the period. Point72 Asset Management L.P. owned about 0.93% of Bread Financial worth $28,228,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Picton Mahoney Asset Management increased its stake 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 purchased a new position in Bread Financial in the 4th quarter worth approximately $46,000. Smartleaf Asset Management LLC increased its stake in Bread Financial by 207.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,394 shares of the company’s stock worth $86,000 after purchasing an additional 941 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in Bread Financial in the 4th quarter worth approximately $104,000. Finally, KBC Group NV increased its stake in Bread Financial by 36.1% in the 4th quarter. KBC Group NV now owns 2,103 shares of the company’s stock worth $128,000 after purchasing an additional 558 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Bread Financial Price Performance

Shares of BFH stock opened at $54.03 on Friday. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 1.25 and a beta of 1.33. The business’s fifty day moving average is $48.59 and its 200 day moving average is $55.70. Bread Financial Holdings, Inc. has a twelve month low of $38.21 and a twelve month high of $66.71. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.33.

Bread Financial (NYSE:BFH) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 12.41% and a net margin of 5.75%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.73 earnings per share. Research analysts expect that Bread Financial Holdings, Inc. will post 6.45 EPS for the current fiscal year.

Bread Financial announced that its board has approved a stock buyback program on Wednesday, March 5th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Bread Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.84 annualized dividend and a yield of 1.55%. Bread Financial’s payout ratio is 14.92%.

Analyst Ratings Changes

BFH has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Bread Financial from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, May 12th. JMP Securities reiterated a “market perform” rating on shares of Bread Financial in a research report on Monday, April 28th. Jefferies Financial Group lifted their price objective on Bread Financial from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, April 24th. The Goldman Sachs Group cut their price objective on Bread Financial from $68.00 to $58.00 and set a “sell” rating on the stock in a research report on Tuesday, March 18th. Finally, Compass Point lifted their price objective on Bread Financial from $75.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Bread Financial currently has a consensus rating of “Hold” and a consensus price target of $60.27.

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.