Capital Fund Management S.A. purchased a new stake in Banco Bradesco SA (NYSE:BBD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 252,346 shares of the company’s stock, valued at approximately $1,971,000.
A number of other institutional investors also recently bought and sold shares of BBD. BlackRock Group LTD raised its stake in shares of Banco Bradesco SA by 16.4% in the first quarter. BlackRock Group LTD now owns 14,017,747 shares of the company’s stock worth $104,432,000 after buying an additional 1,970,818 shares in the last quarter. Sprucegrove Investment Management Ltd. raised its stake in shares of Banco Bradesco SA by 10.4% in the second quarter. Sprucegrove Investment Management Ltd. now owns 20,046,674 shares of the company’s stock worth $156,565,000 after buying an additional 1,896,514 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Banco Bradesco SA by 35.7% in the first quarter. Lazard Asset Management LLC now owns 5,797,125 shares of the company’s stock worth $43,188,000 after buying an additional 1,524,676 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Banco Bradesco SA during the second quarter worth $4,737,000. Finally, ING Groep NV raised its stake in shares of Banco Bradesco SA by 300.6% in the first quarter. ING Groep NV now owns 786,909 shares of the company’s stock worth $5,862,000 after buying an additional 590,481 shares in the last quarter. Institutional investors and hedge funds own 4.36% of the company’s stock.
Shares of Banco Bradesco SA (NYSE:BBD) remained flat at $9.42 on Thursday. 12,060,943 shares of the company’s stock were exchanged. Banco Bradesco SA has a 1-year low of $3.65 and a 1-year high of $9.47. The stock has a market capitalization of $52.11 billion, a price-to-earnings ratio of 9.63 and a beta of 1.96. The stock has a 50 day moving average of $8.95 and a 200-day moving average of $7.91.
Banco Bradesco SA (NYSE:BBD) last announced its earnings results on Thursday, July 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a return on equity of 18.51% and a net margin of 11.75%. On average, analysts predict that Banco Bradesco SA will post $0.87 EPS for the current year.
The business also recently announced a dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.162 per share. The ex-dividend date of this dividend is Monday, October 3rd. This is a boost from Banco Bradesco SA’s previous dividend of $0.01. Banco Bradesco SA’s dividend payout ratio (DPR) is 7.33%.
Several research firms recently weighed in on BBD. Goldman Sachs Group Inc. restated a “neutral” rating and set a $9.30 price target on shares of Banco Bradesco SA in a research report on Wednesday, September 21st. JPMorgan Chase & Co. lowered Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Finally, Credit Suisse Group AG upgraded Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Banco Bradesco SA presently has an average rating of “Hold” and an average price target of $8.65.
Banco Bradesco SA Company Profile
Banco Bradesco SA is a multiple service bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid‑sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.
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