Bread Financial (NYSE:BFH) Given New $61.00 Price Target at Bank of America

Bread Financial (NYSE:BFH) had its price objective increased by stock analysts at Bank of America from $54.00 to $61.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 10.75% from the company’s current price.

Other analysts have also issued reports about the stock. Compass Point raised their price target on shares of Bread Financial from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JMP Securities reissued a “market perform” rating on shares of Bread Financial in a research note on Thursday, June 20th. Royal Bank of Canada increased their price target on Bread Financial from $47.00 to $58.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Barclays lifted their target price on Bread Financial from $32.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, July 26th. Finally, TD Cowen upped their price objective on shares of Bread Financial from $44.00 to $57.00 and gave the company a “hold” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bread Financial has an average rating of “Hold” and a consensus target price of $48.60.

Bread Financial Stock Performance

Shares of BFH traded up $0.81 during mid-day trading on Monday, reaching $55.08. 248,534 shares of the company’s stock traded hands, compared to its average volume of 824,015. The business’s 50-day moving average price is $47.04 and its 200-day moving average price is $41.09. The stock has a market capitalization of $2.73 billion, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 0.18 and a beta of 1.98. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.18 and a current ratio of 1.19. Bread Financial has a 12 month low of $26.08 and a 12 month high of $55.68.

Bread Financial (NYSE:BFH) last announced its earnings results on Thursday, July 25th. The company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $1.06. Bread Financial had a return on equity of 16.24% and a net margin of 9.77%. The company had revenue of $939.00 million for the quarter, compared to analyst estimates of $922.01 million. During the same period in the previous year, the firm earned $1.27 earnings per share. Bread Financial’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts predict that Bread Financial will post 7.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Bread Financial in the 1st quarter valued at approximately $33,000. CWM LLC increased its holdings in shares of Bread Financial by 47.5% in the second quarter. CWM LLC now owns 1,708 shares of the company’s stock valued at $76,000 after purchasing an additional 550 shares during the last quarter. Point72 DIFC Ltd grew its stake in shares of 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 during the period. National Bank of Canada FI lifted its holdings in shares of Bread Financial by 70.3% in the 2nd quarter. National Bank of Canada FI now owns 1,938 shares of the company’s stock worth $88,000 after acquiring an additional 800 shares during the last quarter. Finally, Pinnacle Holdings LLC acquired a new stake in Bread Financial during the 4th quarter worth approximately $83,000. 99.52% of the stock is currently owned by institutional investors.

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.