Mackenzie Financial Corp Acquires Shares of 11,954 Bread Financial Holdings, Inc. (NYSE:BFH)

Mackenzie Financial Corp acquired a new position in shares of Bread Financial Holdings, Inc. (NYSE:BFH) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,954 shares of the company’s stock, valued at approximately $533,000.

Several other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Bread Financial by 2.1% during the second quarter. Arizona State Retirement System now owns 13,836 shares of the company’s stock worth $617,000 after purchasing an additional 279 shares in the last quarter. Point72 DIFC Ltd raised its stake in shares of Bread Financial by 30.0% during the 2nd quarter. Point72 DIFC Ltd now owns 1,721 shares of the company’s stock worth $77,000 after buying an additional 397 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Bread Financial by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,900 shares of the company’s stock valued at $1,110,000 after buying an additional 500 shares during the period. CWM LLC boosted its stake in shares of Bread Financial by 47.5% in the second quarter. CWM LLC now owns 1,708 shares of the company’s stock valued at $76,000 after buying an additional 550 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in Bread Financial by 3.3% during the second quarter. Ensign Peak Advisors Inc now owns 18,592 shares of the company’s stock worth $828,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their target price on Bread Financial from $48.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $67.00 price objective on shares of Bread Financial in a report on Monday, June 17th. Jefferies Financial Group upped their target price on shares of Bread Financial from $35.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Compass Point lifted their price target on shares of Bread Financial from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group boosted their price target on Bread Financial from $40.00 to $53.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Bread Financial has a consensus rating of “Hold” and a consensus price target of $49.71.

Bread Financial Trading Up 2.5 %

Bread Financial stock opened at $48.34 on Friday. Bread Financial Holdings, Inc. has a 52 week low of $26.08 and a 52 week high of $59.66. The stock has a market cap of $2.40 billion, a PE ratio of 6.09, a P/E/G ratio of 0.17 and a beta of 1.94. The stock has a 50-day moving average price of $51.58 and a 200 day moving average price of $44.78. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.41.

Bread Financial (NYSE:BFH) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $1.06. Bread Financial had a net margin of 9.77% and a return on equity of 16.24%. The business had revenue of $939.00 million during the quarter, compared to analyst estimates of $922.01 million. During the same quarter in the previous year, the business posted $1.27 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that Bread Financial Holdings, Inc. will post 7.49 earnings per share for the current fiscal year.

Bread Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, August 9th. Bread Financial’s dividend payout ratio (DPR) is 10.58%.

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.