Bread Financial (NYSE:BFH) Shares Break Above 50 Day Moving Average – Here’s Why

Bread Financial Holdings, Inc. (NYSE:BFH)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $103.88 and traded as high as $105.39. Bread Financial shares last traded at $104.7960, with a volume of 527,187 shares.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BFH. Wells Fargo & Company assumed coverage on Bread Financial in a report on Friday, September 11th. They set an “equal weight” rating and a $115.00 price target on the stock. Citigroup restated a “market perform” rating on shares of Bread Financial in a research report on Monday. Wall Street Zen raised shares of Bread Financial from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Evercore set a $118.00 price objective on shares of Bread Financial in a research report on Thursday, October 1st. Finally, Zacks Research cut shares of Bread Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.21.

Bread Financial Stock Performance

The company has a quick ratio of 1.17, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $103.88 and a 200 day moving average price of $91.33. The stock has a market cap of $4.03 billion, a P/E ratio of 8.26, a PEG ratio of 0.78 and a beta of 1.15.

Bread Financial (NYSE:BFH) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.50. Bread Financial had a return on equity of 17.24% and a net margin of 11.19%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $4.02 EPS. Bread Financial’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Bread Financial Holdings, Inc. will post 12.51 EPS for the current year.

Bread Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a $0.25 dividend. This is a boost from Bread Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.00 annualized dividend and a yield of 1.0%. Bread Financial’s dividend payout ratio is currently 7.89%.

Institutional Trading of Bread Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Bread Financial by 389.3% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 13,700 shares of the company’s stock valued at $1,339,000 after purchasing an additional 10,900 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Bread Financial by 2.6% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,915 shares of the company’s stock worth $383,000 after purchasing an additional 100 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Bread Financial during the third quarter valued at approximately $585,000. Root Financial Partners LLC bought a new position in shares of Bread Financial during the third quarter valued at approximately $45,000. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Bread Financial during the third quarter valued at approximately $74,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Bread Financial Company Profile

Bread Financial Holdings, Inc (NYSE: BFH) is a financial services company that provides payment, lending and savings solutions to consumers and businesses. Its offerings include private-label and co-branded credit cards, installment lending, buy now, pay later services and deposit products.

The company operates through its Bread platform, which supports merchants with financing options, payment processing and customer loyalty solutions. Its consumer products have included Bread Cashback credit cards, Bread Pay installment payment services and Bread Savings deposit accounts.

Bread Financial primarily serves consumers and merchants in the United States, with solutions designed for retail, travel, home improvement and other industries.