Bread Financial (NYSE:BFH) Given New $58.00 Price Target at The Goldman Sachs Group

Bread Financial (NYSE:BFH) had its price objective raised by investment analysts at The Goldman Sachs Group from $52.00 to $58.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 0.57% from the stock’s current price.

Several other equities analysts have also commented on BFH. Royal Bank of Canada increased their target price on shares of Bread Financial from $47.00 to $58.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Barclays reduced their price objective on Bread Financial from $35.00 to $34.00 and set an “underweight” rating on the stock in a research note on Friday, October 25th. Bank of America lowered their target price on Bread Financial from $61.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. TD Cowen raised their price target on Bread Financial from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Evercore ISI increased their price objective on Bread Financial from $52.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.00.

Bread Financial Price Performance

BFH stock remained flat at $57.67 during mid-day trading on Tuesday. The company’s stock had a trading volume of 123,054 shares, compared to its average volume of 848,579. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market cap of $2.87 billion, a PE ratio of 9.18 and a beta of 1.94. The firm’s 50 day simple moving average is $51.25 and its two-hundred day simple moving average is $48.41. Bread Financial has a 52-week low of $26.58 and a 52-week high of $63.01.

Bread Financial (NYSE:BFH) last released its earnings results on Thursday, October 24th. The company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.03). Bread Financial had a return on equity of 13.33% and a net margin of 6.37%. The firm had revenue of $983.00 million during the quarter, compared to the consensus estimate of $981.26 million. During the same quarter in the previous year, the firm earned $3.46 EPS. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Bread Financial will post 7.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John J. Fawcett purchased 1,000 shares of Bread Financial stock in a transaction that occurred on Monday, October 28th. The shares were bought at an average cost of $51.02 per share, with a total value of $51,020.00. Following the completion of the purchase, the director now directly owns 6,473 shares in the company, valued at approximately $330,252.46. This trade represents a 18.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Bread Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in BFH. Millennium Management LLC boosted its stake in Bread Financial by 81.6% during the second quarter. Millennium Management LLC now owns 1,464,195 shares of the company’s stock worth $65,245,000 after acquiring an additional 657,968 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Bread Financial by 152.9% during the second quarter. Point72 Asset Management L.P. now owns 645,689 shares of the company’s stock valued at $28,772,000 after purchasing an additional 390,413 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Bread Financial by 30.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,121,329 shares of the company’s stock worth $53,353,000 after purchasing an additional 260,283 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Bread Financial by 38.2% in the 3rd quarter. Pzena Investment Management LLC now owns 880,827 shares of the company’s stock worth $41,910,000 after buying an additional 243,419 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Bread Financial by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 5,847,645 shares of the company’s stock worth $217,766,000 after buying an additional 216,274 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

About Bread Financial

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.