Verition Fund Management LLC purchased a new position in shares of Banco Bradesco SA (NYSE:BBD) during the 2nd quarter, HoldingsChannel reports. The firm purchased 60,058 shares of the bank’s stock, valued at approximately $229,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Sprucegrove Investment Management Ltd. grew its stake in Banco Bradesco by 19.6% in the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 35,761,979 shares of the bank’s stock valued at $136,253,000 after buying an additional 5,862,392 shares during the last quarter. Baillie Gifford & Co. grew its stake in Banco Bradesco by 1.5% in the 1st quarter. Baillie Gifford & Co. now owns 29,370,158 shares of the bank’s stock valued at $119,244,000 after buying an additional 430,868 shares during the last quarter. Franklin Resources Inc. grew its stake in Banco Bradesco by 13.8% in the 1st quarter. Franklin Resources Inc. now owns 29,278,382 shares of the bank’s stock valued at $118,878,000 after buying an additional 3,555,396 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in Banco Bradesco by 87.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,192,470 shares of the bank’s stock valued at $88,483,000 after buying an additional 10,788,419 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Banco Bradesco by 6.2% during the 1st quarter. State Street Corp now owns 22,422,809 shares of the bank’s stock worth $91,128,000 after acquiring an additional 1,318,333 shares during the period. Institutional investors own 2.28% of the company’s stock.
BBD opened at $3.85 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 1.63 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $34.55 billion, a PE ratio of 7.33, a PEG ratio of 3.99 and a beta of 0.86. Banco Bradesco SA has a 1-year low of $2.68 and a 1-year high of $8.47. The firm has a 50-day moving average price of $3.99 and a two-hundred day moving average price of $4.09.
Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Banco Bradesco had a net margin of 15.81% and a return on equity of 15.61%. The firm had revenue of $3.95 billion during the quarter. On average, research analysts predict that Banco Bradesco SA will post 0.34 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, September 2nd. Banco Bradesco’s dividend payout ratio is 5.63%.
A number of brokerages recently issued reports on BBD. Citigroup cut shares of Banco Bradesco from a “buy” rating to a “neutral” rating in a research report on Thursday, May 28th. Zacks Investment Research cut shares of Banco Bradesco from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, ValuEngine cut shares of Banco Bradesco from a “hold” rating to a “sell” rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.75.
Banco Bradesco Profile
Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.
Featured Article: Overbought
Want to see what other hedge funds are holding BBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Bradesco SA (NYSE:BBD).
Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.