Bread Financial (BFH)
Issuer of partner cards, direct cards, Bread Pay loans, and online savings.
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Issues and services co-brand and private-label credit cards, offers proprietary cards and Bread Pay financing, and gathers deposits through Bread Savings. Interest and fees on loans drive most revenue, tying the one-segment business to consumer credit performance, brand-partner contracts, and regulated funding.
Runs a U.S. consumer-finance platform centered on co-brand and private-label credit cards for retailers and other brand partners. Through Comenity Bank and Comenity Capital Bank, it issues and services partner cards, underwrites and funds receivables, and supports programs with marketing, analytics, rewards, and risk management.
Extends the platform through proprietary Bread Cashback and Bread Rewards general-purpose cards, Bread Pay installment and split-pay financing, and Bread Savings certificates of deposit and high-yield savings accounts. Interest and fees on credit card and other loans supply the main revenue stream, while partner contracts contribute a smaller share.
Operating results depend on consumer credit performance, durable partner relationships, deposit and securitization funding, and banking and consumer-finance regulation. The business is reported as one segment, and its issuing banks are subject to federal and state oversight.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 11, 2026 | Wells Fargo | Initiate | Rating: —Target: — | Target: $115 |
| Aug 25, 2026 | Wolfe Research | Upgrade | Target: $108 | Target: $130 |
| Aug 3, 2026 | UBS | Reiterate | Rating: —Target: $120 | Target: $127 |
| Jul 27, 2026 | Seaport Global | Reiterate | Rating: —Target: $56 | Target: $119 |
| Jul 24, 2026 | Morgan Stanley | Target | Target: $102 | Target: $107 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $3.68B · Total debt $3.29B · Total assets $22.45B · Shareholders' equity $3.37B
- Revenue
- $1.19B
- Operating income
- $197.0M
- Net income
- $146.0M
HistoryDividendAnnual yield
| Institutions | ≈ 104.11% | 40.00M shares | |
|---|---|---|---|
| 432 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 3.85% | 1.48M shares | |
| 17 holders · as of Sep 16, 2026 | |||
| Adds to | 107.96% | ||
38.42M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 107.96%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 10.12% | 3.89M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 8.05% | 3.09M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.82% | 2.62M | as of Jun 30, 2026 |
American Century Companies IncInstitution | 4.66% | 1.79M | as of Jun 30, 2026 |
Allianz Asset Management GmbHInstitution | 4.66% | 1.79M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | Dennis James McCarthy | officer: EVP, Chief Revenue Officer | +16 | $108.14 |
| Jul 28, 2026 | Praniti Lakhwara | director | −2,802 | $106.12 |
| May 29, 2026 | Ralph J. Andretta | director, officer: President and CEO | −15,000 | $89.10 |
| May 21, 2026 | John J. Fawcett | director | +698 | $86.43 |
| Apr 24, 2026 | Roger H. Ballou | director | −9,687 | $90.32 |
- Synchrony Financial
Closest specialist peer in partner cards and promotional finance
- Citi
Large issuer in branded, retail-service, and partner cards
- Capital One
Scale card issuer with Discover products and bank funding
- American Express
Premium card and co-brand issuer with payment-plan features
- JPMorgan Chase
Chase card scale pressures partner and proprietary cards
- Affirm
Direct checkout-finance rival for Bread Pay
- PayPal
Checkout wallet and BNPL alternative to Bread Pay
- Block
Afterpay and Cash App compete for pay-later checkout
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Bread Financial | $101.97 | −0.71% | $4.15B | 8.0 | 8.2 | 0.9 | +7.2% |
| Synchrony Financial | $71.95 | −1.00% | $23.64B | 7.4 | 7.6 | 1.2 | −21.1% |
| Citi | $132.55 | +0.06% | $227.17B | 14.3 | 11.4 | 1.3 | +14.3% |
| Capital One | $197.97 | −1.29% | $123.03B | 12.4 | 9.1 | 1.6 | +26.0% |
| American Express | $303.71 | −0.45% | $206.02B | 18.5 | 16.3 | 2.5 | +10.0% |
| JPMorgan Chase | $338.65 | −0.40% | $911.03B | 14.6 | 14.0 | 3.1 | +27.8% |
| Affirm | $68.31 | −4.82% | $24.04B | 13.0 | 35.7 | 5.7 | +33.0% |
| PayPal | $52.40 | −0.93% | $45.25B | 10.0 | 9.4 | 1.3 | +4.8% |
| Block | $75.00 | −3.26% | $46.14B | 138.4 | 16.4 | 1.8 | +9.3% |
| Median | 13.7 | 12.7 | 1.7 | +12.1% |