Miller Value Partners LLC Invests $14.39 Million in Bread Financial Holdings, Inc. $BFH

Miller Value Partners LLC purchased a new position in Bread Financial Holdings, Inc. (NYSE:BFH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 132,798 shares of the company’s stock, valued at approximately $14,389,000. Bread Financial makes up about 3.4% of Miller Value Partners LLC’s investment portfolio, making the stock its 9th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Bread Financial by 2.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,842 shares of the company’s stock worth $416,000 after buying an additional 99 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Bread Financial by 5.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,535 shares of the company’s stock valued at $262,000 after acquiring an additional 187 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Bread Financial by 58.7% in the 1st quarter. Pacer Advisors Inc. now owns 614 shares of the company’s stock valued at $46,000 after acquiring an additional 227 shares during the last quarter. Vista Investment Management raised its position in shares of Bread Financial by 1.1% during the 4th quarter. Vista Investment Management now owns 22,858 shares of the company’s stock valued at $1,692,000 after acquiring an additional 241 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Bread Financial by 6.6% during the 4th quarter. Corient Private Wealth LLC now owns 4,206 shares of the company’s stock valued at $311,000 after acquiring an additional 259 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Seaport Research Partners reaffirmed a “buy” rating and issued a $119.00 price objective on shares of Bread Financial in a report on Monday, July 27th. Morgan Stanley set a $107.00 target price on shares of Bread Financial in a report on Friday, July 24th. TD Cowen lifted their price target on shares of Bread Financial from $103.00 to $114.00 and gave the company a “hold” rating in a report on Friday, July 24th. BTIG Research boosted their price objective on shares of Bread Financial from $105.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Finally, Evercore reiterated an “outperform” rating and set a $116.00 price objective on shares of Bread Financial in a research note on Monday, July 6th. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.08.

Insider Activity at Bread Financial

In related news, CEO Ralph J. Andretta sold 15,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $89.10, for a total value of $1,336,500.00. Following the completion of the transaction, the chief executive officer directly owned 582,241 shares of the company’s stock, valued at $51,877,673.10. This represents a 2.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Praniti Lakhwara sold 2,802 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were 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 in the company, valued at approximately $473,082.96. This represents a 38.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is currently owned by company insiders.

Bread Financial Stock Performance

BFH stock opened at $107.82 on Wednesday. Bread Financial Holdings, Inc. has a 1 year low of $53.83 and a 1 year high of $114.53. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.66 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s fifty day moving average is $105.01 and its two-hundred day moving average is $89.76.

Bread Financial (NYSE:BFH) last released its quarterly earnings results on Thursday, July 23rd. The company reported $3.55 EPS for the quarter, topping the consensus estimate of $2.74 by $0.81. Bread Financial had a net margin of 11.95% and a return on equity of 18.42%. The business had revenue of $993.00 million during the quarter, compared to analyst estimates of $959.32 million. During the same quarter in the prior year, the firm earned $3.15 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts predict that Bread Financial Holdings, Inc. will post 12.1 EPS for the current year.

Bread Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.23 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.92 annualized dividend and a yield of 0.9%. Bread Financial’s dividend payout ratio is 7.18%.

Bread Financial Profile

Bread Financial, formerly known as Alliance Data Systems, is a Columbus, Ohio–based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners. The company designs, issues and services proprietary credit products, enabling merchants to offer branded financing options that drive customer loyalty and increase basket sizes at the point of sale. Through its Bread technology platform, Bread Financial delivers installment-based payment options that integrate directly into e-commerce and in-store checkout experiences.

In addition to its core credit offerings, Bread Financial provides analytics, marketing and loyalty services to help merchants better understand consumer behavior and optimize promotional strategies.