Andretta Ralph J sold $1.3M of BFH

Shares of SoFi, BNY Mellon, Bread Financial, Perella Weinberg, and Morgan Stanley fell after September consumer price inflation data showed a 3.7% annual increase, raising Fed rate hike concerns. SoFi dropped 6.9%, BNY Mellon 3%, Bread Financial 3%, Perella Weinberg 4.2%, and Morgan Stanley 3.3%. SoFi reported Q1 revenue of $1.1B, up 42.8% YoY, but guidance missed estimates, leading to a 13.5% drop six months ago.

Bread Financial reported August 2026 loan growth of 5.6% year-over-year, with average loans at $18.59 billion. Net principal loss rate improved to 6.40% from 7.57% a year earlier. 30+ day delinquencies fell to $885 million, with a delinquency rate of 5.36%.

Bread Financial Holdings (BFH) secured regulatory approvals and amended its credit agreement to merge two banking subsidiaries, expected to close by October 1, 2026. The merger is not expected to significantly impact financials but consolidates banking entities. The $700M credit facility remains intact.

Bread Financial amended its $700M revolving credit facility with JPMorgan to allow a bank merger, per an agreement filed Sep 03, 2026. The change exempts the merger from certain covenants but leaves other terms intact. The company expects no material financial impact and maintains liquidity.

Ally Financial (NYSE:ALLY) reported Q2 revenue of $2.28B, up 10.3% YoY, exceeding estimates. Peers like Bread Financial (NYSE:BFH) and FirstCash (NASDAQ:FCFS) also saw growth, while Nelnet (NYSE:NNI) and Happen Bank (NYSE:HAPN) underperformed. Stocks reacted mixedly to results, with Ally down 6.3% and FirstCash up 11.1%.

Bread Financial Holdings (BFH) stock rose 2.8% after Wolfe Research upgraded it to Outperform with a $130 price target, citing improved credit quality and earnings growth. The company's Q2 2026 earnings of $3.55 per share and $993M revenue beat estimates. BFH shares reached $108.14 during the session.