Seaport Res Ptn Comments on Bread Financial Holdings, Inc.’s Q1 2024 Earnings (NYSE:BFH)

Bread Financial Holdings, Inc. (NYSE:BFH) – Seaport Res Ptn dropped their Q1 2024 earnings per share (EPS) estimates for Bread Financial in a research report issued to clients and investors on Tuesday, April 16th. Seaport Res Ptn analyst W. Ryan now expects that the company will post earnings per share of $2.99 for the quarter, down from their previous estimate of $3.24. The consensus estimate for Bread Financial’s current full-year earnings is $7.03 per share. Seaport Res Ptn also issued estimates for Bread Financial’s Q2 2024 earnings at $0.82 EPS and Q3 2024 earnings at $1.78 EPS.

BFH has been the topic of several other reports. Barclays cut their target price on Bread Financial from $27.00 to $26.00 and set an “underweight” rating on the stock in a report on Tuesday, April 9th. JPMorgan Chase & Co. raised their target price on Bread Financial from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Royal Bank of Canada restated a “sector perform” rating and set a $36.00 target price on shares of Bread Financial in a report on Friday, January 26th. Wolfe Research upgraded Bread Financial from a “peer perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Thursday, April 4th. Finally, Oppenheimer upgraded Bread Financial from a “market perform” rating to an “outperform” rating and set a $52.00 target price on the stock in a report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bread Financial has a consensus rating of “Hold” and an average price target of $36.55.

Bread Financial Stock Down 3.9 %

NYSE BFH traded down $1.31 during trading on Wednesday, hitting $32.23. 659,509 shares of the company traded hands, compared to its average volume of 776,791. Bread Financial has a 12 month low of $23.19 and a 12 month high of $41.89. The business has a fifty day simple moving average of $36.79 and a 200 day simple moving average of $32.88. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.59 billion, a P/E ratio of 2.34, a PEG ratio of 0.12 and a beta of 1.93.

Bread Financial (NYSE:BFH) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $1.57. Bread Financial had a return on equity of 26.24% and a net margin of 13.87%. The business had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $984.36 million. During the same period last year, the company earned ($2.68) earnings per share. Bread Financial’s quarterly revenue was down 3.2% compared to the same quarter last year.

Bread Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 9th were paid a $0.21 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.61%. Bread Financial’s payout ratio is presently 5.87%.

Insider Buying and Selling

In related news, major shareholder Turtle Creek Asset Management sold 45,000 shares of Bread Financial stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $35.67, for a total transaction of $1,605,150.00. Following the sale, the insider now directly owns 293,092 shares of the company’s stock, valued at $10,454,591.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 165,000 shares of company stock valued at $5,417,850 over the last three months. 0.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bread Financial

A number of institutional investors have recently added to or reduced their stakes in BFH. Vanguard Group Inc. acquired a new stake in Bread Financial during the third quarter worth about $155,419,000. BlackRock Inc. acquired a new stake in Bread Financial during the third quarter valued at approximately $153,464,000. State Street Corp acquired a new stake in Bread Financial during the third quarter valued at approximately $52,807,000. Norges Bank acquired a new stake in Bread Financial during the fourth quarter valued at approximately $34,438,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Bread Financial by 62.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,169,566 shares of the company’s stock valued at $65,779,000 after purchasing an additional 830,855 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

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.