PNC Financial Services Group Inc. Sells 1,465 Shares of Bread Financial Holdings, Inc. $BFH

PNC Financial Services Group Inc. lessened its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,456 shares of the company’s stock after selling 1,465 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bread Financial were worth $769,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Quarry LP grew its stake in shares of Bread Financial by 947.5% in the first quarter. Quarry LP now owns 639 shares of the company’s stock worth $32,000 after acquiring an additional 578 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Bread Financial during the 2nd quarter valued at $42,000. Strs Ohio bought a new stake in Bread Financial in the 1st quarter valued at $65,000. State of Wyoming acquired a new stake in Bread Financial in the 1st quarter worth $92,000. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Bread Financial during the 2nd quarter worth about $166,000. 99.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BFH has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bread Financial in a research note on Wednesday. Wall Street Zen downgraded Bread Financial from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. The Goldman Sachs Group boosted their price objective on Bread Financial from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, October 24th. Royal Bank Of Canada upped their target price on Bread Financial from $64.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th. Finally, Zacks Research upgraded shares of Bread Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.00.

Bread Financial Trading Up 4.9%

Shares of BFH opened at $64.69 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a market cap of $2.95 billion, a PE ratio of 6.59, a PEG ratio of 0.50 and a beta of 1.51. Bread Financial Holdings, Inc. has a 1 year low of $38.21 and a 1 year high of $68.01. The stock has a 50 day simple moving average of $60.78 and a 200-day simple moving average of $58.95.

Bread Financial (NYSE:BFH) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $4.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $1.91. Bread Financial had a return on equity of 15.97% and a net margin of 10.08%.The firm had revenue of $161.00 million for the quarter, compared to analysts’ expectations of $974.30 million. During the same period in the prior year, the business posted $1.83 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. Bread Financial has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Bread Financial Holdings, Inc. will post 6.45 EPS for the current fiscal year.

Bread Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 7th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 7th. This is a positive change from Bread Financial’s previous quarterly dividend of $0.21. Bread Financial’s payout ratio is currently 9.37%.

Bread Financial declared that its board has approved a share buyback plan on Wednesday, August 27th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.