Two Sigma Investments LP increased its stake in Banco Bradesco (NYSE:BBD) by 148.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,044,494 shares of the bank’s stock after purchasing an additional 1,220,541 shares during the quarter. Two Sigma Investments LP’s holdings in Banco Bradesco were worth $20,936,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BBD. Nationwide Fund Advisors raised its position in Banco Bradesco by 39.3% in the third quarter. Nationwide Fund Advisors now owns 1,145,932 shares of the bank’s stock worth $12,685,000 after acquiring an additional 323,185 shares during the period. Boston Partners bought a new stake in shares of Banco Bradesco during the 3rd quarter valued at $1,287,000. FDx Advisors Inc. raised its position in shares of Banco Bradesco by 72.6% during the 3rd quarter. FDx Advisors Inc. now owns 55,681 shares of the bank’s stock valued at $616,000 after purchasing an additional 23,415 shares during the period. Bank of New York Mellon Corp raised its position in shares of Banco Bradesco by 68.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 254,701 shares of the bank’s stock valued at $2,820,000 after purchasing an additional 103,699 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Banco Bradesco by 7.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,059,573 shares of the bank’s stock valued at $33,869,000 after purchasing an additional 223,743 shares during the period. Institutional investors and hedge funds own 2.88% of the company’s stock.
Shares of BBD stock traded down $0.18 during trading hours on Friday, reaching $10.47. 6,479,141 shares of the stock were exchanged, compared to its average volume of 8,701,467. The stock has a market cap of $78,415.30, a PE ratio of 11.76 and a beta of 1.84. Banco Bradesco has a 12-month low of $7.83 and a 12-month high of $13.18.
Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Thursday, February 1st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $9.90 billion during the quarter, compared to analysts’ expectations of $8.20 billion. Banco Bradesco had a net margin of 9.87% and a return on equity of 17.44%. equities research analysts predict that Banco Bradesco will post 0.85 earnings per share for the current fiscal year.
The firm also recently declared a special dividend, which will be paid on Wednesday, May 9th. Stockholders of record on Wednesday, April 4th will be issued a $0.0058 dividend. The ex-dividend date is Tuesday, April 3rd. This is a positive change from Banco Bradesco’s previous special dividend of $0.01. Banco Bradesco’s payout ratio is currently 6.74%.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Wednesday, January 3rd. ValuEngine upgraded shares of Banco Bradesco from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Citigroup upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Finally, JPMorgan Chase raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $12.20.
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Banco Bradesco Profile
Banco Bradesco SA provides banking and financial products and services to individuals, companies, and corporations and institutions. The company operates in two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. It accepts demand and time deposits, checking and savings accounts, interbank deposits from financial institutions, and accounts for salary purposes.
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