KLP Kapitalforvaltning AS Purchases New Shares in Bread Financial Holdings, Inc. (NYSE:BFH)

KLP Kapitalforvaltning AS purchased a new position in Bread Financial Holdings, Inc. (NYSE:BFH) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,000 shares of the company’s stock, valued at approximately $611,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. boosted its position in Bread Financial by 30.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,121,329 shares of the company’s stock worth $53,353,000 after acquiring an additional 260,283 shares during the period. Great Lakes Advisors LLC boosted its holdings in shares of Bread Financial by 5,654.9% during the fourth quarter. Great Lakes Advisors LLC now owns 256,151 shares of the company’s stock worth $15,641,000 after purchasing an additional 251,700 shares during the period. Allianz Asset Management GmbH grew its position in Bread Financial by 44.5% during the fourth quarter. Allianz Asset Management GmbH now owns 474,660 shares of the company’s stock valued at $28,983,000 after purchasing an additional 146,244 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Bread Financial in the 3rd quarter valued at approximately $6,001,000. Finally, American Century Companies Inc. boosted its stake in shares of Bread Financial by 6.8% during the 4th quarter. American Century Companies Inc. now owns 1,382,135 shares of the company’s stock valued at $84,393,000 after buying an additional 88,081 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley raised Bread Financial from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $76.00 in a research note on Thursday, December 19th. Compass Point boosted their target price on shares of Bread Financial from $75.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. JMP Securities restated a “market perform” rating on shares of Bread Financial in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on shares of Bread Financial from $67.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group lowered their target price on shares of Bread Financial from $68.00 to $58.00 and set a “sell” rating on the stock in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.69.

Bread Financial Stock Up 3.0 %

BFH stock opened at $51.69 on Thursday. The firm has a 50-day moving average price of $55.65 and a 200-day moving average price of $56.21. Bread Financial Holdings, Inc. has a 12 month low of $32.10 and a 12 month high of $66.71. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $2.54 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 1.25 and a beta of 1.96.

Bread Financial (NYSE:BFH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.41 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Bread Financial Holdings, Inc. will post 6.45 EPS for the current fiscal year.

Bread Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.63%. Bread Financial’s dividend payout ratio (DPR) is currently 15.14%.

Bread Financial announced that its board has authorized a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Bread Financial Profile

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.