Verity Asset Management Inc. Invests $384,000 in Bread Financial Holdings, Inc. (NYSE:BFH)

Verity Asset Management Inc. acquired a new stake in Bread Financial Holdings, Inc. (NYSE:BFH) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,070 shares of the company’s stock, valued at approximately $384,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BFH. GAMMA Investing LLC raised its stake in shares of Bread Financial by 33.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,035 shares of the company’s stock worth $49,000 after buying an additional 260 shares during the last quarter. Pallas Capital Advisors LLC grew its position in shares of Bread Financial by 6.2% in the third quarter. Pallas Capital Advisors LLC now owns 4,778 shares of the company’s stock valued at $239,000 after purchasing an additional 278 shares during the last quarter. Arizona State Retirement System raised its position in shares of Bread Financial by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 13,836 shares of the company’s stock worth $617,000 after purchasing an additional 279 shares during the last quarter. Point72 DIFC Ltd lifted its stake in Bread Financial by 30.0% in the 2nd quarter. Point72 DIFC Ltd now owns 1,721 shares of the company’s stock valued at $77,000 after buying an additional 397 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Bread Financial by 2.0% during 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 last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John J. Fawcett acquired 1,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were bought at an average price of $51.02 per share, for a total transaction of $51,020.00. Following the completion of the purchase, the director now directly owns 6,473 shares of the company’s stock, valued at approximately $330,252.46. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on BFH. TD Cowen upped their price objective on Bread Financial from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their price target on shares of Bread Financial from $48.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Evercore ISI boosted their price objective on shares of Bread Financial from $52.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Bank of America reduced their price objective on shares of Bread Financial from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Compass Point lifted their target price on shares of Bread Financial from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.64.

Bread Financial Price Performance

BFH opened at $60.25 on Friday. Bread Financial Holdings, Inc. has a 52-week low of $26.27 and a 52-week high of $63.01. The company has a 50 day moving average of $51.13 and a two-hundred day moving average of $47.35. The company has a market cap of $3.00 billion, a P/E ratio of 9.59 and a beta of 1.94. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.33.

Bread Financial (NYSE:BFH) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.03). Bread Financial had a return on equity of 13.33% and a net margin of 6.37%. The business had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $981.26 million. During the same period last year, the company posted $3.46 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts expect that Bread Financial Holdings, Inc. will post 7.59 earnings per share for the current year.

Bread Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 1.39%. Bread Financial’s payout ratio is currently 13.38%.

Bread Financial Company 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.