I understand that bringing up Bread Financial may trigger a few here in Shrewdland, but with that bit of warning...

I noticed that COF was up 10% on solid earnings. Its been on my watchlist, along with AXP and BFH. That led me to relook at Bread....

Here is the earnings press release from yesterday https://s28.q4cdn.com/645453783/files/doc_financia...
And the earning presentation https://s28.q4cdn.com/645453783/files/doc_financia...

The shares have fallen from a high of 41 in July to 27 now; down 35%

The compnay is trading at a PE of <3; P/B >47; P/Cash Flow of ??0.74??; Debt has been cut in half since 2020

I know that this company is unloved compared to COF or AXP or SYF...

Delinquencies are trending up. But still, revenue was up 5%; the company earned $3.46 this quarter alone.

Shouldnt this be one of those cases where you buy something really cheap and good things happen eventually? I realize that the long term chart would not really support this hypothesis, which I suppose is the market telling me that there is something wrong with my thinking.

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