IPG Investment Advisors LLC acquired a new position in Banco Bradesco SA (NYSE:BBD) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 25,000 shares of the bank’s stock, valued at approximately $246,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BBD. Fiera Capital Corp boosted its position in shares of Banco Bradesco by 38.3% during the second quarter. Fiera Capital Corp now owns 4,478,551 shares of the bank’s stock valued at $43,979,000 after buying an additional 1,240,432 shares during the last quarter. Quantamental Technologies LLC bought a new position in Banco Bradesco in the second quarter valued at about $231,000. M&T Bank Corp lifted its holdings in Banco Bradesco by 22.1% in the second quarter. M&T Bank Corp now owns 13,812 shares of the bank’s stock valued at $136,000 after acquiring an additional 2,502 shares during the period. Capital Fund Management S.A. lifted its holdings in Banco Bradesco by 5,180.6% in the second quarter. Capital Fund Management S.A. now owns 1,280,303 shares of the bank’s stock valued at $12,573,000 after acquiring an additional 1,305,503 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Banco Bradesco by 12.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 42,127 shares of the bank’s stock valued at $414,000 after acquiring an additional 4,728 shares during the period. Institutional investors and hedge funds own 2.43% of the company’s stock.
BBD stock traded up $0.37 during trading on Friday, reaching $8.43. The stock had a trading volume of 932,435 shares, compared to its average volume of 13,236,166. Banco Bradesco SA has a 52 week low of $5.41 and a 52 week high of $10.55. The stock’s 50 day moving average is $8.66 and its two-hundred day moving average is $9.57. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79. The firm has a market cap of $75.95 billion, a PE ratio of 11.86, a PEG ratio of 0.44 and a beta of 0.90.
Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, July 26th. The bank reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Banco Bradesco had a return on equity of 19.01% and a net margin of 16.16%. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $6.38 billion. On average, research analysts anticipate that Banco Bradesco SA will post 0.81 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 4th will be issued a $0.004 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Banco Bradesco’s dividend payout ratio is 5.63%.
A number of research firms have weighed in on BBD. Goldman Sachs Group began coverage on Banco Bradesco in a report on Monday, June 10th. They issued a “sell” rating and a $9.58 target price on the stock. ValuEngine downgraded Banco Bradesco from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research downgraded Banco Bradesco from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Morgan Stanley raised Banco Bradesco from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Sell” and an average price target of $10.29.
Banco Bradesco Company 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.
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