Convergence Investment Partners LLC Makes New $705,000 Investment in Bread Financial Holdings, Inc. (NYSE:BFH)

Convergence Investment Partners LLC bought a new position in Bread Financial Holdings, Inc. (NYSE:BFH) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 15,816 shares of the company’s stock, valued at approximately $705,000.

Other large investors have also made changes to their positions in the company. Natixis Advisors LLC purchased a new position in Bread Financial during the 2nd quarter worth approximately $582,000. Hantz Financial Services Inc. purchased a new position in shares of Bread Financial during the second quarter valued at $1,049,000. Innealta Capital LLC acquired a new position in Bread Financial during the second quarter valued at $223,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bread Financial by 25.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,671 shares of the company’s stock worth $520,000 after acquiring an additional 2,386 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new stake in Bread Financial during the 2nd quarter worth about $245,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Bread Financial Stock Down 0.7 %

BFH opened at $58.17 on Tuesday. The firm has a market cap of $2.88 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 0.20 and a beta of 1.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.19 and a current ratio of 1.19. The business has a 50 day moving average price of $50.42 and a 200 day moving average price of $42.69. Bread Financial Holdings, Inc. has a twelve month low of $26.08 and a twelve month high of $59.66.

Bread Financial (NYSE:BFH) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.66 earnings per share for the quarter, topping 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 analysts’ expectations of $922.01 million. During the same period in the previous year, the company earned $1.27 earnings per share. Bread Financial’s revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts forecast that Bread Financial Holdings, Inc. will post 7.49 EPS for the current year.

Bread Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, August 9th. Bread Financial’s dividend payout ratio (DPR) is 10.58%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BFH shares. BTIG Research began coverage on Bread Financial in a report on Friday, June 7th. They issued a “neutral” rating on the stock. JMP Securities reissued a “market perform” rating on shares of Bread Financial in a research note on Thursday, June 20th. Compass Point upped their price target 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. JPMorgan Chase & Co. lifted their price objective on Bread Financial from $48.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group upped their target price on Bread Financial from $35.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $49.53.

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.