Bread Financial (NYSE:BFH) Stock Price Target Cut by TD Cowen

Bread Financial (NYSE:BFH) had its price objective reduced by investment analysts at TD Cowen from $114.00 to $111.00 in a report issued on Tuesday, MarketBeat Ratings reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential upside of 13.83% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. Wolfe Research upgraded Bread Financial from a “peer perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a report on Tuesday, August 25th. BTIG Research raised their price objective on Bread Financial from $105.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Evercore set a $118.00 price objective on Bread Financial in a research note on Thursday, October 1st. Bank of America reiterated a “buy” rating and set a $108.00 target price on shares of Bread Financial in a report on Wednesday, June 10th. Finally, Seaport Research Partners reissued a “buy” rating and set a $119.00 target price on shares of Bread Financial in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bread Financial has a consensus rating of “Moderate Buy” and an average target price of $112.29.

Bread Financial Stock Performance

NYSE:BFH opened at $97.51 on Tuesday. The company has a market cap of $3.75 billion, a P/E ratio of 7.61, a P/E/G ratio of 0.77 and a beta of 1.15. The firm’s 50 day moving average is $106.31 and its two-hundred day moving average is $96.47. Bread Financial has a fifty-two week low of $53.83 and a fifty-two week high of $114.53. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.25.

Bread Financial (NYSE:BFH) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.81. The company had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $959.32 million. Bread Financial had a net margin of 11.95% and a return on equity of 18.42%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.15 EPS. Analysts expect that Bread Financial will post 12.1 EPS for the current year.

Insider Activity at Bread Financial

In other news, Director Praniti Lakhwara sold 2,802 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $106.12, for a total value of $297,348.24. Following the completion of the sale, the director owned 4,458 shares of the company’s stock, valued at $473,082.96. This represents a 38.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bread Financial

Several hedge funds have recently modified their holdings of the stock. Argent Capital Management LLC lifted its position in Bread Financial by 3.8% during the 3rd quarter. Argent Capital Management LLC now owns 12,801 shares of the company’s stock worth $1,251,000 after acquiring an additional 465 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Bread Financial by 10.1% during the second quarter. QRG Capital Management Inc. now owns 4,127 shares of the company’s stock valued at $447,000 after purchasing an additional 380 shares during the period. Engineers Gate Manager LP raised its stake in shares of Bread Financial by 238.9% during the second quarter. Engineers Gate Manager LP now owns 25,470 shares of the company’s stock valued at $2,760,000 after purchasing an additional 17,955 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Bread Financial during the second quarter worth $128,000. Finally, IFP Advisors Inc boosted its stake in shares of Bread Financial by 125.8% in the second quarter. IFP Advisors Inc now owns 490 shares of the company’s stock valued at $53,000 after purchasing an additional 273 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Bread Financial Company Profile

Bread Financial Corporation (NYSE: BFH) is a financial services company that provides payment, lending and savings solutions to consumers and businesses. The company works with merchants and brands to offer private-label and co-branded credit cards, installment loans, buy now, pay later services and other financing options at the point of sale.

Its consumer products and services include Bread Pay payment solutions, credit card programs issued through its banking subsidiaries, and Bread Savings deposit products.