Seafarer Capital Partners LLC trimmed its stake in shares of Banco Bradesco SA (NYSE:BBD) by 75.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,542,500 shares of the bank’s stock after selling 4,697,500 shares during the quarter. Banco Bradesco comprises about 12.5% of Seafarer Capital Partners LLC’s portfolio, making the stock its 3rd biggest holding. Seafarer Capital Partners LLC’s holdings in Banco Bradesco were worth $10,921,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Standard Life Aberdeen plc raised its holdings in shares of Banco Bradesco by 20.1% during the 2nd quarter. Standard Life Aberdeen plc now owns 165,169,076 shares of the bank’s stock worth $1,133,886,000 after buying an additional 27,683,861 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Banco Bradesco by 23.4% during the 2nd quarter. BlackRock Inc. now owns 39,233,633 shares of the bank’s stock worth $269,143,000 after buying an additional 7,441,386 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Banco Bradesco by 9.9% during the 2nd quarter. Fisher Asset Management LLC now owns 35,424,652 shares of the bank’s stock worth $243,013,000 after buying an additional 3,192,725 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Banco Bradesco by 11.8% during the 2nd quarter. Baillie Gifford & Co. now owns 17,509,302 shares of the bank’s stock worth $120,114,000 after buying an additional 1,844,878 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Banco Bradesco by 10.8% during the 2nd quarter. Earnest Partners LLC now owns 16,110,689 shares of the bank’s stock worth $110,519,000 after buying an additional 1,564,284 shares in the last quarter. Hedge funds and other institutional investors own 3.17% of the company’s stock.
BBD traded up $0.22 on Friday, reaching $8.60. The stock had a trading volume of 12,909,500 shares, compared to its average volume of 11,879,851. Banco Bradesco SA has a fifty-two week low of $6.49 and a fifty-two week high of $13.18. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market cap of $47.39 billion, a PE ratio of 9.39, a PEG ratio of 0.46 and a beta of 1.79.
Banco Bradesco (NYSE:BBD) last issued its earnings results on Wednesday, July 25th. The bank reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Banco Bradesco had a return on equity of 17.06% and a net margin of 12.02%. The business had revenue of $7.31 billion during the quarter. On average, equities research analysts expect that Banco Bradesco SA will post 0.76 EPS for the current year.
The company also recently announced a special dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 3rd will be issued a $0.0046 dividend. The ex-dividend date is Tuesday, October 2nd. This represents a yield of 0.88%. Banco Bradesco’s payout ratio is presently 5.62%.
A number of research firms have recently commented on BBD. ValuEngine cut Banco Bradesco from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised Banco Bradesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Santander raised Banco Bradesco from a “hold” rating to a “buy” rating in a report on Friday, July 20th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.00.
Banco Bradesco Profile
Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.
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