Bread Financial (BFH)

• Market cap: $2.23B
• 1 day: -2.04%
• 5 days: -4.99%
• 1 month: -5.25%
• 3 months: -25.52%
• 6 months: -6.91%
• Year to date: -21.53%
• 1 year: 28.56%
• 5 years: -5.23%
• 10 years: -84.04%
• Sector: Financials
• Industry: Credit Services

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 a minority interest in spun-off LoyaltyOne, which operates the largest airline miles loyalty program in Canada and offers marketing services to grocery chains in Europe and Asia.

Employees: 6,000

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

24% more capital invested

Capital invested by funds: $2.4B [Q3] → $2.98B (+$587M) [Q4]

15% more call options, than puts

Call options by funds: $10.4M | Put options by funds: $9.06M

2% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 47

1% less funds holding

Funds holding: 324 [Q3] → 321 (-3) [Q4]

3.03% less ownership

Funds ownership: 101.29% [Q3] → 98.27% (-3.03%) [Q4]

15% less repeat investments, than reductions

Existing positions increased: 104 | Existing positions reduced: 123

17% less funds holding in top 10

Funds holding in top 10: 6 [Q3] → 5 (-1) [Q4]

Research analyst outlook

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

• Low target: $50 5% upside
• Avg. target: $54 14% upside
• High target: $58 22% upside

2 analyst ratings

• positive: 0 0%
• neutral: 1 50%
• negative: 1 50%

Jefferies John Hecht 63% 1-year accuracy 5 / 8 met price target	5% upside $50	Hold Maintained	24 Apr 2025
Goldman Sachs Ryan Nash 48% 1-year accuracy 14 / 29 met price target	22% upside $58	Sell Maintained	18 Mar 2025