Bread Financial (BFH)

• Market cap: $3.15B
• 1 day: -0.60%
• 5 days: -1.39%
• 1 month: 3.72%
• 3 months: 27.04%
• 6 months: 16.03%
• Year to date: 4.73%
• 1 year: 74.61%
• 5 years: -38.39%
• 10 years: -78.28%
• Sector: Financials
• Industry: Personal Credit Institutions

About: Formed by a combination of JCPenney's credit card processing unit and The Limited's credit card bank business, Bread Financial is a provider of private label and co-branded credit cards, loyalty programs, and marketing services. The company's most financially significant unit is its credit card business that partners with retailers to jointly market Bread's credit cards to their customers. The company also retains minority interest in its recently spun-off LoyaltyOne division, which operates the largest airline miles loyalty program in Canada and offers marketing services to grocery chains in Europe and Asia.

Employees: 7,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

145% more first-time investments, than exits

New positions opened: 71 | Existing positions closed: 29

16% more repeat investments, than reductions

Existing positions increased: 111 | Existing positions reduced: 96

13% more funds holding

Funds holding: 285 [Q2] → 323 (+38) [Q3]

0% more capital invested

Capital invested by funds: $2.4B [Q2] → $2.4B (+$3.4M) [Q3]

6.85% less ownership

Funds ownership: 108.44% [Q2] → 101.59% (-6.85%) [Q3]

14% less funds holding in top 10

Funds holding in top 10: 7 [Q2] → 6 (-1) [Q3]

77% less call options, than puts

Call options by funds: $15.3M | Put options by funds: $66.6M

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $53 16% downside
• Avg. target: $71 12% upside
• High target: $88 39% upside

5 analyst ratings

• positive: 2 40%
• neutral: 1 20%
• negative: 2 40%

RBC Capital Karl Shepard 60% 1-year accuracy 3 / 5 met price target	7% upside $68	Sector Perform Maintained	31 Jan 2025
Barclays Terry Ma 42% 1-year accuracy 8 / 19 met price target	16% downside $53	Underweight Maintained	31 Jan 2025
Compass Point David Rochester 71% 1-year accuracy 17 / 24 met price target	37% upside $87	Buy Maintained	21 Jan 2025
Keefe, Bruyette & Woods Sanjay Sakhrani 76% 1-year accuracy 28 / 37 met price target	39% upside $88	Outperform Maintained	9 Dec 2024
Goldman Sachs Ryan Nash 52% 1-year accuracy 13 / 25 met price target	8% downside $58	Sell Maintained	19 Nov 2024