Bread Financial (NYSE:BFH) Given New $58.00 Price Target at The Goldman Sachs Group

Bread Financial (NYSE:BFH) had its target price increased by The Goldman Sachs Group from $52.00 to $58.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a sell rating on the stock.

A number of other brokerages have also recently issued reports on BFH. TD Cowen increased their price objective on shares of Bread Financial from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Barclays cut their target price on shares of Bread Financial from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada raised their target price on shares of Bread Financial from $47.00 to $58.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Evercore ISI raised their target price on shares of Bread Financial from $52.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Bread Financial from $48.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.00.

Bread Financial Stock Performance

Shares of NYSE BFH opened at $57.59 on Tuesday. The firm has a fifty day moving average price of $51.32 and a 200-day moving average price of $48.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market cap of $2.86 billion, a PE ratio of 9.17 and a beta of 1.94. Bread Financial has a 1 year low of $26.58 and a 1 year high of $63.01.

Bread Financial (NYSE:BFH) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.03). The firm had revenue of $983.00 million during the quarter, compared to analysts’ expectations of $981.26 million. Bread Financial had a return on equity of 13.33% and a net margin of 6.37%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company earned $3.46 earnings per share. Equities analysts anticipate that Bread Financial will post 7.63 earnings per share for the current fiscal year.

Bread Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.46%. Bread Financial’s payout ratio is currently 13.38%.

Insiders Place Their Bets

In other news, Director John J. Fawcett purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was purchased at an average cost of $51.02 per share, with a total value of $51,020.00. Following the purchase, the director now owns 6,473 shares in the company, valued at approximately $330,252.46. This trade represents a 18.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Bread Financial

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Bread Financial during the 1st quarter worth about $1,546,000. UniSuper Management Pty Ltd purchased a new position in shares of Bread Financial during the 1st quarter worth about $383,000. Sei Investments Co. boosted its stake in shares of Bread Financial by 58.5% during the 1st quarter. Sei Investments Co. now owns 84,317 shares of the company’s stock worth $3,140,000 after purchasing an additional 31,122 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Bread Financial by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,173,009 shares of the company’s stock worth $141,386,000 after purchasing an additional 70,092 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Bread Financial by 22.4% during the 2nd quarter. American Century Companies Inc. now owns 1,161,443 shares of the company’s stock valued at $51,754,000 after buying an additional 212,276 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.