BFH BREAD FINANCIAL HOLDINGS, INC.

NEUTRAL Impact: 4/10 8-K
Horizon days Filed May 12, 2026 Processed 1mo ago SEC 0001193125-26-218648
8-K context-dependent: Items 3.03, 8.01
Latest settled — T+5d
BFH-PA ▼ -0.36% at T+5d
NEUTRAL call ✗ call lost -0.36% · α vs SPY -0.43% · entry $25.19 → $25.10
Next anchor: T+20d due 3d ago
Currently $101.71 · +303.77% from $25.19 entry
Entry anchored
May 12, 2026
via day open
T+1d
-0.16%
call -0.16% · α -0.73%
$25.15
settled 4w ago
T+5d
-0.36%
call -0.36% · α -0.43%
$25.10
settled 25d ago
T+20d
call — · α —
due 3d ago
T+60d
call — · α —
in 8w

Price Chart

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Executive Summary

Bread Financial Holdings issued 4,800,000 depositary shares (Series B Preferred Stock) at $25 per share, raising $116.2 million in net proceeds. The offering is a routine capital raise to bolster the company's balance sheet and is not tied to any specific acquisition or operational event. The filing also includes the related deposit agreement and certificate of designations.

Actionable Insight

Monitor the listing of the depositary shares on the NYSE and any subsequent trading activity. The offering is a routine capital raise and does not signal a change in the company's operational outlook. No immediate trading catalyst is expected.

Key Facts

  • Issued 4,800,000 depositary shares (Series B Preferred Stock) at $25 per share.
  • Aggregate offering size of $120 million ($138 million if over-allotment option is fully exercised).
  • Net proceeds to issuer before expenses: $116,220,000.
  • Underwriters have a 30-day option to purchase up to an additional 720,000 depositary shares.
  • Dividend rate: 8.875% per annum fixed until December 15, 2031, then resets to Five-Year U.S. Treasury Rate plus 4.804%.
  • Preferred stock is non-cumulative, perpetual, and ranks pari passu with existing Series A preferred stock.
  • Depositary shares are expected to be listed on the NYSE under the symbol 'BFH PrB' within 30 days.
  • Trade date was May 5, 2026; settlement date is May 12, 2026 (T+5).

Financial Impact

The company raised $116.2 million in net proceeds from the offering of Series B preferred stock.

equitydilutioncapital structure

Risk Factors

  • Dilution of existing common equity holders' voting power and earnings per share.
  • Fixed dividend obligation increases financial leverage and interest expense.
  • Potential for redemption at the company's option after December 15, 2031, which could affect yield expectations.

Market Snapshot

Exchange
NYSE
Sector
Personal Credit Institutions

Documents Analyzed

This report is based on 3 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001193125-26-218648
Document: d118407dex11.htm0001193125-26-218648
Document: d118407dex31.htm0001193125-26-218648
13 reports for BFH
Performance horizon
67% Hit rate 2 of 3 directional calls best @ T+5▲ +7.27%Apr 23, 2026
Filters
Rows
Reports for BFH — sortable, filterable
Type Now
May 20, 2026
24d ago
Press Release
NEUTRAL ★ 2/10
$87.46 $88.23▲ +0.88%▼ −0.92%$101.71 (+16.29%)
May 15, 2026
29d ago
8-K
NEUTRAL ★ 4/10
$24.70 $24.62▼ −0.34%▼ −1.30%$101.71 (+311.80%)
May 12, 2026
4w ago
8-K
NEUTRAL ★ 4/10
$25.19 $25.10▼ −0.36%▼ −0.43%$101.71 (+303.77%)
May 6, 2026
5w ago
Press Release
NEUTRAL ★ 4/10
$88.30 $84.63▼ −4.16%▼ −5.29%$101.71 (+15.19%)
May 5, 2026
5w ago
8-K
NEUTRAL ★ 4/10
$24.98 $25.18▲ +0.80%▼ −1.18%$101.71 (+307.17%)
May 5, 2026
5w ago
Press Release
NEUTRAL ★ 4/10
$85.09 $84.93▼ −0.19%▼ −2.17%$101.71 (+19.53%)
Apr 23, 2026
7w ago
8-K
BEARISH ★ 5/10
$25.06 $25.15▼ −0.36%▲ +1.12%$101.71 (−305.87%)
Apr 23, 2026
7w ago
8-K
BULLISH ★ 8/10
$25.06 $25.15▲ +0.36%▼ −1.12%$101.71 (+305.87%)
Apr 23, 2026
7w ago
Press Release
BEARISH ★ 8/10
$92.12 $85.42▲ +7.27%▲ +8.75%$101.71 (−10.41%)
Apr 23, 2026
7w ago
Press Release
NEUTRAL ★ 3/10
$92.12 $85.42▼ −7.27%▼ −8.75%$101.71 (+10.41%)
Showing 10 of 13

US Market Status

Market Closed — Opens Mon (46h 57m)

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