New York State Teachers Retirement System Trims Stock Holdings in Bread Financial Holdings, Inc. $BFH

New York State Teachers Retirement System reduced its stake in Bread Financial Holdings, Inc. (NYSE:BFH) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,428 shares of the company’s stock after selling 4,016 shares during the period. New York State Teachers Retirement System’s holdings in Bread Financial were worth $3,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Atria Wealth Solutions Inc. purchased a new stake in Bread Financial in the 2nd quarter valued at about $226,000. Pzena Investment Management LLC raised its holdings in Bread Financial by 9.9% in the 2nd quarter. Pzena Investment Management LLC now owns 800,143 shares of the company’s stock valued at $45,704,000 after buying an additional 71,939 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Bread Financial by 11.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,816 shares of the company’s stock worth $561,000 after purchasing an additional 995 shares during the period. KLP Kapitalforvaltning AS increased its stake in Bread Financial by 3.3% during the second quarter. KLP Kapitalforvaltning AS now owns 15,600 shares of the company’s stock worth $891,000 after purchasing an additional 500 shares during the period. Finally, Hennessy Advisors Inc. increased its stake in Bread Financial by 5.3% during the second quarter. Hennessy Advisors Inc. now owns 60,000 shares of the company’s stock worth $3,427,000 after purchasing an additional 3,000 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Bread Financial Stock Performance

Shares of Bread Financial stock opened at $59.94 on Tuesday. Bread Financial Holdings, Inc. has a one year low of $38.21 and a one year high of $68.01. The company has a market cap of $2.80 billion, a PE ratio of 10.14, a P/E/G ratio of 0.53 and a beta of 1.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50-day simple moving average of $60.97 and a 200-day simple moving average of $56.28.

Bread Financial (NYSE:BFH) last announced its quarterly earnings data on Thursday, July 24th. The company reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $1.29. Bread Financial had a return on equity of 13.10% and a net margin of 6.05%.The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $944.69 million. During the same period in the previous year, the company posted $2.66 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Bread Financial has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Bread Financial Holdings, Inc. will post 6.45 EPS for the current fiscal year.

Bread Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, August 8th. Bread Financial’s dividend payout ratio is 14.21%.

Bread Financial declared that its Board of Directors has initiated a share buyback plan on Wednesday, August 27th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on BFH. Evercore ISI cut their price target on shares of Bread Financial from $68.00 to $64.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods cut their price target on shares of Bread Financial from $88.00 to $71.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley boosted their price target on shares of Bread Financial from $51.00 to $53.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Royal Bank Of Canada boosted their price target on shares of Bread Financial from $65.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Finally, Barclays cut their price target on shares of Bread Financial from $52.00 to $50.00 and set an “underweight” rating on the stock in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $66.20.

Insider Transactions at Bread Financial

In other Bread Financial news, Director John J. Fawcett purchased 1,027 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $61.79 per share, with a total value of $63,458.33. Following the completion of the acquisition, the director directly owned 10,302 shares of the company’s stock, valued at $636,560.58. This trade represents a 11.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by company insiders.

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.