Profund Advisors LLC boosted its stake in Banco Bradesco SA (NYSE:BBD) by 34.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 500,780 shares of the bank’s stock after acquiring an additional 127,433 shares during the period. Profund Advisors LLC’s holdings in Banco Bradesco were worth $4,482,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SignalPoint Asset Management LLC purchased a new stake in Banco Bradesco in the fourth quarter valued at $230,000. Toronto Dominion Bank purchased a new stake in Banco Bradesco in the fourth quarter valued at $72,000. Atria Investments LLC acquired a new position in Banco Bradesco in the fourth quarter valued at $103,000. Raymond James & Associates acquired a new position in Banco Bradesco in the fourth quarter valued at $109,000. Finally, Advisor Group Inc. increased its stake in Banco Bradesco by 64.7% in the fourth quarter. Advisor Group Inc. now owns 12,544 shares of the bank’s stock valued at $112,000 after purchasing an additional 4,930 shares during the period. 2.41% of the stock is owned by hedge funds and other institutional investors.
NYSE BBD traded up $0.09 during trading on Thursday, reaching $4.46. The company’s stock had a trading volume of 25,116,600 shares, compared to its average volume of 20,088,459. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $36.27 billion, a price-to-earnings ratio of 6.28, a P/E/G ratio of 0.93 and a beta of 0.85. Banco Bradesco SA has a twelve month low of $3.29 and a twelve month high of $10.55. The business’s fifty day moving average price is $6.34 and its 200-day moving average price is $7.82.
Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Wednesday, February 5th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Banco Bradesco had a net margin of 16.97% and a return on equity of 19.15%. The business had revenue of $7.78 billion for the quarter, compared to analyst estimates of $6.61 billion. As a group, sell-side analysts forecast that Banco Bradesco SA will post 0.72 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Monday, May 11th. Stockholders of record on Friday, April 3rd will be paid a dividend of $0.0038 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.02%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Thursday, April 2nd. Banco Bradesco’s payout ratio is 5.13%.
A number of research firms have commented on BBD. Bank of America lowered shares of Banco Bradesco from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 21st. Zacks Investment Research upgraded shares of Banco Bradesco from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, ValuEngine upgraded shares of Banco Bradesco from a “sell” rating to a “hold” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $10.29.
About Banco Bradesco
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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