Panagora Asset Management Inc. lessened its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 655,422 shares of the bank’s stock after selling 11,118 shares during the period. Panagora Asset Management Inc.’s holdings in Banco Bradesco were worth $4,640,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Macquarie Group Ltd. boosted its position in shares of Banco Bradesco by 34.7% during the second quarter. Macquarie Group Ltd. now owns 6,812,765 shares of the bank’s stock valued at $46,736,000 after buying an additional 1,755,348 shares during the period. NumerixS Investment Technologies Inc purchased a new position in shares of Banco Bradesco during the second quarter valued at approximately $717,000. HRT Financial LLC purchased a new position in shares of Banco Bradesco during the second quarter valued at approximately $132,000. Standard Life Aberdeen plc boosted its position in shares of Banco Bradesco by 20.1% during the second quarter. Standard Life Aberdeen plc now owns 165,169,076 shares of the bank’s stock valued at $1,133,886,000 after buying an additional 27,683,861 shares during the period. Finally, BB&T Securities LLC purchased a new position in shares of Banco Bradesco during the second quarter valued at approximately $503,000. Institutional investors and hedge funds own 3.25% of the company’s stock.
Shares of NYSE:BBD opened at $9.66 on Friday. Banco Bradesco SA has a 1 year low of $6.49 and a 1 year high of $13.18. The company has a market cap of $65.60 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.57 and a beta of 1.20. The company has a quick ratio of 1.13, a current ratio of 1.11 and a debt-to-equity ratio of 0.85.
Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, November 1st. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $8.44 billion during the quarter. Banco Bradesco had a return on equity of 17.38% and a net margin of 14.27%. Analysts anticipate that Banco Bradesco SA will post 0.84 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Wednesday, January 9th. Investors of record on Wednesday, December 5th will be issued a $0.004 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.50%. Banco Bradesco’s payout ratio is 5.62%.
Several research analysts have issued reports on BBD shares. ValuEngine lowered Banco Bradesco from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 2nd. Morgan Stanley upgraded Banco Bradesco from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 9th. Finally, Zacks Investment Research upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Monday, November 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Banco Bradesco has an average rating of “Buy” and a consensus price target of $11.00.
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Banco Bradesco Company 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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