Convergence Investment Partners LLC Raises Stake in Bread Financial Holdings, Inc. (NYSE:BFH)

Convergence Investment Partners LLC grew its stake in shares of Bread Financial Holdings, Inc. (NYSE:BFH) by 53.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,120 shares of the company’s stock after purchasing an additional 13,961 shares during the period. Convergence Investment Partners LLC’s holdings in Bread Financial were worth $2,450,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in shares of Bread Financial by 4.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,872 shares of the company’s stock worth $297,000 after purchasing an additional 206 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of Bread Financial by 6.2% during the 3rd quarter. Pallas Capital Advisors LLC now owns 4,778 shares of the company’s stock worth $239,000 after buying an additional 278 shares during the last quarter. Savant Capital LLC raised its stake in shares of Bread Financial by 5.8% during the 4th quarter. Savant Capital LLC now owns 5,329 shares of the company’s stock worth $325,000 after buying an additional 290 shares during the last quarter. Highland Capital Management LLC raised its stake in shares of Bread Financial by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 5,734 shares of the company’s stock worth $350,000 after buying an additional 350 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of Bread Financial by 2.8% during the 3rd quarter. Natixis Advisors LLC now owns 13,421 shares of the company’s stock worth $639,000 after buying an additional 369 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market perform” rating on shares of Bread Financial in a research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on shares of Bread Financial from $67.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Morgan Stanley raised shares of Bread Financial from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $76.00 in a research note on Thursday, December 19th. Barclays boosted their target price on shares of Bread Financial from $51.00 to $53.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. Finally, Evercore ISI boosted 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.69.

Bread Financial Stock Down 0.8 %

Shares of NYSE:BFH opened at $61.92 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.19 and a current ratio of 1.15. Bread Financial Holdings, Inc. has a 1 year low of $32.10 and a 1 year high of $66.71. The stock has a market capitalization of $3.08 billion, a P/E ratio of 11.16, a PEG ratio of 1.34 and a beta of 1.93. The stock has a 50-day simple moving average of $62.26 and a 200-day simple moving average of $56.45.

Bread Financial (NYSE:BFH) last issued its earnings results on Thursday, January 30th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Bread Financial had a return on equity of 12.41% and a net margin of 5.75%. Equities analysts forecast that Bread Financial Holdings, Inc. will post 6.63 earnings per share for the current year.

Bread Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 14th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, February 14th. Bread Financial’s dividend payout ratio is presently 15.14%.

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.