Alpine Global Management LLC Makes New Investment in Banco Bradesco SA $BBD

Alpine Global Management LLC purchased a new stake in shares of Banco Bradesco SA (NYSE:BBD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,700,000 shares of the bank’s stock, valued at approximately $8,991,000. Banco Bradesco comprises approximately 1.5% of Alpine Global Management LLC’s investment portfolio, making the stock its 12th largest holding.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Banco Bradesco by 100.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after buying an additional 4,353 shares during the period. Brooklyn Investment Group grew its position in shares of Banco Bradesco by 1,276.5% in the third quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock valued at $36,000 after purchasing an additional 9,842 shares during the last quarter. Checchi Capital Advisers LLC bought a new position in shares of Banco Bradesco in the fourth quarter worth about $39,000. Ballentine Partners LLC bought a new position in shares of Banco Bradesco in the fourth quarter worth about $41,000. Finally, GAMMA Investing LLC increased its stake in shares of Banco Bradesco by 40.1% in the fourth quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock worth $42,000 after purchasing an additional 3,619 shares during the period.

Banco Bradesco Trading Down 1.9%

Shares of BBD stock opened at $3.37 on Friday. Banco Bradesco SA has a 52-week low of $2.73 and a 52-week high of $4.30. The firm has a fifty day moving average of $3.68 and a 200-day moving average of $3.68. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $35.66 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 0.42 and a beta of 0.53.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%.The business had revenue of $1.50 billion for the quarter. On average, equities research analysts forecast that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, July 6th will be issued a dividend of $0.0038 per share. The ex-dividend date is Monday, July 6th. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s payout ratio is currently 7.69%.

Analyst Ratings Changes

Several brokerages recently weighed in on BBD. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Itau BBA Securities reaffirmed an “outperform” rating on shares of Banco Bradesco in a research report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Banco Bradesco Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.