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

Bread Financial (NYSE:BFH) had its target price boosted by The Goldman Sachs Group from $52.00 to $58.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a sell rating on the stock.

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

Bread Financial Price Performance

Shares of NYSE BFH opened at $57.59 on Tuesday. Bread Financial has a 1 year low of $26.58 and a 1 year high of $63.01. 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 company’s 50-day moving average is $51.32 and its 200 day moving average is $48.53. The stock has a market capitalization of $2.86 billion, a P/E ratio of 9.17 and a beta of 1.94.

Bread Financial (NYSE:BFH) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.03). Bread Financial had a net margin of 6.37% and a return on equity of 13.33%. The company had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $981.26 million. During the same quarter in the prior year, the firm earned $3.46 EPS. Bread Financial’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Bread Financial will post 7.63 earnings per share for the current year.

Bread Financial Announces Dividend

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

Insider Activity

In related news, Director John J. Fawcett acquired 1,000 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the director now directly owns 6,473 shares of the company’s stock, valued at approximately $330,252.46. This trade represents a 18.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Bread Financial by 3.8% during the first quarter. Vanguard Group Inc. now owns 5,847,645 shares of the company’s stock valued at $217,766,000 after purchasing an additional 216,274 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Bread Financial by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,173,009 shares of the company’s stock valued at $141,386,000 after buying an additional 70,092 shares during the last quarter. State Street Corp increased its holdings in Bread Financial by 2.1% during the third quarter. State Street Corp now owns 2,034,554 shares of the company’s stock valued at $96,804,000 after buying an additional 41,012 shares during the last quarter. Millennium Management LLC increased its holdings in Bread Financial by 81.6% during the second quarter. Millennium Management LLC now owns 1,464,195 shares of the company’s stock valued at $65,245,000 after buying an additional 657,968 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Bread Financial by 6.1% during the second quarter. Victory Capital Management Inc. now owns 1,249,669 shares of the company’s stock valued at $55,685,000 after buying an additional 71,777 shares during 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.