Profund Advisors LLC grew its position in Banco Bradesco SA (NYSE:BBD) by 7.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 426,850 shares of the bank’s stock after acquiring an additional 29,432 shares during the quarter. Profund Advisors LLC’s holdings in Banco Bradesco were worth $4,192,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in BBD. Fisher Asset Management LLC lifted its position in shares of Banco Bradesco by 18.9% in the 2nd quarter. Fisher Asset Management LLC now owns 41,449,039 shares of the bank’s stock worth $407,030,000 after acquiring an additional 6,577,776 shares during the period. Baillie Gifford & Co. lifted its position in shares of Banco Bradesco by 26.9% during the 2nd quarter. Baillie Gifford & Co. now owns 27,044,061 shares of the bank’s stock worth $265,572,000 after buying an additional 5,732,189 shares during the period. INCA Investments LLC lifted its position in shares of Banco Bradesco by 2,114.8% during the 2nd quarter. INCA Investments LLC now owns 4,352,000 shares of the bank’s stock worth $42,737,000 after buying an additional 4,155,500 shares during the period. SPX Equities Gestao de Recursos Ltda lifted its position in shares of Banco Bradesco by 992.2% during the 2nd quarter. SPX Equities Gestao de Recursos Ltda now owns 3,020,689 shares of the bank’s stock worth $29,663,000 after buying an additional 2,744,110 shares during the period. Finally, Bessemer Group Inc. bought a new position in shares of Banco Bradesco during the 2nd quarter worth approximately $25,482,000. Institutional investors own 2.46% of the company’s stock.
Several research firms recently commented on BBD. Morgan Stanley upgraded Banco Bradesco from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded Banco Bradesco from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine downgraded Banco Bradesco from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 5th. Finally, Goldman Sachs Group began coverage on Banco Bradesco in a research report on Monday, June 10th. They set a “sell” rating and a $9.58 target price for the company. Four analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Banco Bradesco currently has an average rating of “Hold” and an average price target of $10.29.
Shares of Banco Bradesco stock traded down $0.14 during midday trading on Friday, hitting $8.19. 8,900,553 shares of the company were exchanged, compared to its average volume of 13,882,819. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.15 and a quick ratio of 1.10. The firm has a market cap of $79.09 billion, a P/E ratio of 11.53, a PEG ratio of 0.62 and a beta of 0.90. Banco Bradesco SA has a 52 week low of $5.41 and a 52 week high of $10.55. The firm has a 50 day simple moving average of $8.47 and a 200-day simple moving average of $9.46.
Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, July 26th. The bank reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $6.38 billion. Banco Bradesco had a return on equity of 19.01% and a net margin of 16.16%. Equities research analysts expect that Banco Bradesco SA will post 0.79 earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.004 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.05 dividend on an annualized basis and a yield of 0.59%. Banco Bradesco’s dividend payout ratio is 5.63%.
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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