Banco Bradesco SA $BBD Stock Position Lowered by Baillie Gifford & Co.

Baillie Gifford & Co. trimmed its position in shares of Banco Bradesco SA (NYSE:BBD) by 2.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 27,974,111 shares of the bank’s stock after selling 678,056 shares during the quarter. Baillie Gifford & Co.’s holdings in Banco Bradesco were worth $94,552,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Banco Bradesco by 92.7% in the second quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock valued at $25,000 after purchasing an additional 3,864 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Banco Bradesco by 100.5% during the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after buying an additional 4,353 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Banco Bradesco during the second quarter valued at $42,000. Union Bancaire Privee UBP SA acquired a new position in Banco Bradesco during the second quarter valued at $46,000. Finally, Natural Investments LLC purchased a new stake in Banco Bradesco in the 2nd quarter worth about $46,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.00.

Banco Bradesco Trading Up 2.5%

Banco Bradesco stock opened at $3.96 on Friday. Banco Bradesco SA has a 12 month low of $1.92 and a 12 month high of $3.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.64. The stock has a market cap of $42.09 billion, a P/E ratio of 11.30, a P/E/G ratio of 0.37 and a beta of 0.54. The company’s fifty day simple moving average is $3.48 and its 200-day simple moving average is $3.26.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $34.75 billion. Banco Bradesco had a return on equity of 12.95% and a net margin of 9.61%. As a group, sell-side analysts forecast that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Wednesday, February 4th will be issued a dividend of $0.0035 per share. The ex-dividend date is Wednesday, February 4th. This represents a c) annualized dividend and a dividend yield of 1.1%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 5.71%.

About Banco Bradesco

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.