Wedge Capital Management L L P NC Sells 5,077 Shares of Bread Financial Holdings, Inc. $BFH

Wedge Capital Management L L P NC reduced its holdings in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 25.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,543 shares of the company’s stock after selling 5,077 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Bread Financial were worth $1,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new position in Bread Financial in the 4th quarter valued at approximately $28,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Bread Financial during the fourth quarter worth $29,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bread Financial by 141.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 562 shares of the company’s stock worth $31,000 after acquiring an additional 329 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Bread Financial by 127.2% in the second quarter. EverSource Wealth Advisors LLC now owns 711 shares of the company’s stock worth $41,000 after acquiring an additional 398 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Bread Financial by 58.7% in the first quarter. Pacer Advisors Inc. now owns 614 shares of the company’s stock valued at $46,000 after purchasing an additional 227 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BFH. BTIG Research boosted their price objective on Bread Financial from $105.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Wolfe Research restated a “positive” rating on shares of Bread Financial in a research note on Wednesday, June 10th. The Goldman Sachs Group lifted their target price on Bread Financial from $94.00 to $108.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. TD Cowen upped their price target on Bread Financial from $103.00 to $114.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Finally, Wall Street Zen raised shares of Bread Financial from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $110.58.

Bread Financial Price Performance

NYSE:BFH opened at $113.22 on Friday. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 0.71 and a beta of 1.11. Bread Financial Holdings, Inc. has a 52-week low of $53.83 and a 52-week high of $114.12. The stock has a fifty day moving average of $103.72 and a 200 day moving average of $87.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.17.

Bread Financial (NYSE:BFH) last announced its earnings results on Thursday, July 23rd. The company reported $3.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.81. The business had revenue of $992.00 million for the quarter, compared to analyst estimates of $959.32 million. Bread Financial had a return on equity of 18.42% and a net margin of 11.95%.The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.15 EPS. On average, research analysts expect that Bread Financial Holdings, Inc. will post 12.1 EPS for the current fiscal year.

Bread Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Bread Financial’s dividend payout ratio is 7.18%.

Insider Activity at Bread Financial

In other Bread Financial news, CEO Ralph J. Andretta sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $89.10, for a total value of $1,336,500.00. Following the completion of the transaction, the chief executive officer owned 582,241 shares of the company’s stock, valued at $51,877,673.10. The trade was a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John J. Fawcett purchased 698 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $86.43 per share, for a total transaction of $60,328.14. Following the acquisition, the director directly owned 11,000 shares in the company, valued at approximately $950,730. The trade was a 6.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.30% of the stock is currently owned by insiders.

Bread Financial Profile

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.