Bread Financial (NYSE:BFH) Upgraded by Wells Fargo & Company to Hold Rating

Bread Financial (NYSE:BFH) was upgraded by stock analysts at Wells Fargo & Company to a “hold” rating in a research report issued on Friday, Zacks reports.

Several other analysts also recently commented on BFH. Bank of America reaffirmed a “buy” rating and set a $108.00 target price on shares of Bread Financial in a report on Wednesday, June 10th. Seaport Research Partners reissued a “buy” rating and issued a $119.00 price target on shares of Bread Financial in a report on Monday, July 27th. Barclays boosted their price objective on Bread Financial from $104.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bread Financial in a research report on Friday, July 24th. Finally, Wolfe Research upgraded Bread Financial from a “peer perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.29.

Bread Financial Stock Down 0.5%

BFH opened at $106.28 on Friday. Bread Financial has a 1-year low of $53.83 and a 1-year high of $114.53. The stock’s fifty day simple moving average is $105.73 and its 200 day simple moving average is $92.56. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4.08 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 0.67 and a beta of 1.10.

Bread Financial (NYSE:BFH) last released its quarterly earnings data on Thursday, July 23rd. The company reported $3.55 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.15 earnings per share. As a group, research analysts expect that Bread Financial will post 12.1 earnings per share for the current year.

Insider Transactions at Bread Financial

In other Bread Financial news, Director Praniti Lakhwara sold 2,802 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $106.12, for a total transaction of $297,348.24. Following the completion of the transaction, the director owned 4,458 shares of the company’s stock, valued at approximately $473,082.96. The trade was a 38.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bread Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP increased its position in Bread Financial by 238.9% during the 2nd quarter. Engineers Gate Manager LP now owns 25,470 shares of the company’s stock worth $2,760,000 after purchasing an additional 17,955 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Bread Financial in the 2nd quarter valued at $128,000. IFP Advisors Inc lifted its stake in shares of Bread Financial by 125.8% in the 2nd quarter. IFP Advisors Inc now owns 490 shares of the company’s stock valued at $53,000 after acquiring an additional 273 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Bread Financial by 27.2% in the 2nd quarter. Allworth Financial LP now owns 679 shares of the company’s stock valued at $74,000 after acquiring an additional 145 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of Bread Financial during the 2nd quarter valued at $201,000. 99.52% of the stock is owned by institutional investors.

Bread Financial Company Profile

Bread Financial Corporation (NYSE: BFH) is a financial services company that provides payment, lending and savings solutions for consumers and businesses. Its offerings include private-label and co-branded credit cards, installment loans, buy now, pay later financing and direct-to-consumer savings products.

The company works with retailers and brands to design and manage customized credit programs, including account servicing, underwriting, transaction processing and customer engagement services.