Bread Financial (NYSE:BFH) Stock Rating Upgraded by Bank of America

Bread Financial (NYSE:BFH) was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat Ratings reports. The firm presently has a $54.00 price objective on the stock. Bank of America‘s price objective would indicate a potential upside of 5.68% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Barclays raised their price target on Bread Financial from $32.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their target price on Bread Financial from $40.00 to $53.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Jefferies Financial Group raised their price target on shares of Bread Financial from $35.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Argus cut shares of Bread Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, TD Cowen upped their target price on Bread Financial from $44.00 to $57.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.13.

Bread Financial Stock Performance

NYSE:BFH traded up $3.57 during trading hours on Friday, reaching $51.10. 2,140,160 shares of the company’s stock were exchanged, compared to its average volume of 826,674. Bread Financial has a 1-year low of $26.08 and a 1-year high of $55.68. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 0.18 and a beta of 1.98. The company has a 50-day moving average of $45.93 and a 200 day moving average of $40.43. The company has a quick ratio of 1.18, a current ratio of 1.19 and a debt-to-equity ratio of 0.41.

Bread Financial (NYSE:BFH) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.66 EPS for the quarter, beating the consensus estimate of $1.60 by $1.06. The firm had revenue of $939.00 million during the quarter, compared to the consensus estimate of $922.01 million. Bread Financial had a return on equity of 16.24% and a net margin of 9.77%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 EPS. Research analysts anticipate that Bread Financial will post 7.04 EPS for the current year.

Hedge Funds Weigh In On Bread Financial

A number of large investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of Bread Financial in the first quarter worth $33,000. CWM LLC raised its holdings in Bread Financial by 47.5% in the 2nd quarter. CWM LLC now owns 1,708 shares of the company’s stock valued at $76,000 after acquiring an additional 550 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Bread Financial by 1,280.6% during the 4th quarter. National Bank of Canada FI now owns 2,416 shares of the company’s stock worth $80,000 after purchasing an additional 2,241 shares in the last quarter. Pinnacle Holdings LLC bought a new position in Bread Financial in the fourth quarter worth $83,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Bread Financial by 19.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,771 shares of the company’s stock worth $124,000 after buying an additional 603 shares during the period. Institutional investors and hedge funds 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.