Silvercrest Asset Management Group LLC bought a new stake in Banco Bradesco SA (NYSE:BBD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,915 shares of the bank’s stock, valued at approximately $107,000.
Other hedge funds also recently bought and sold shares of the company. Icon Wealth Partners LLC bought a new position in shares of Banco Bradesco in the first quarter valued at approximately $34,000. Virtus ETF Advisers LLC bought a new position in shares of Banco Bradesco in the second quarter valued at approximately $36,000. Exane Derivatives bought a new position in shares of Banco Bradesco in the second quarter valued at approximately $43,000. Lindbrook Capital LLC lifted its holdings in shares of Banco Bradesco by 28.1% in the second quarter. Lindbrook Capital LLC now owns 6,348 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,393 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. lifted its holdings in shares of Banco Bradesco by 20.0% in the second quarter. Shine Investment Advisory Services Inc. now owns 7,244 shares of the bank’s stock valued at $71,000 after purchasing an additional 1,207 shares in the last quarter. Institutional investors own 2.46% of the company’s stock.
A number of research analysts have recently weighed in on BBD shares. ValuEngine lowered Banco Bradesco from a “sell” rating to a “strong sell” rating in a report on Thursday, September 5th. Morgan Stanley upgraded Banco Bradesco from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 7th. Goldman Sachs Group started coverage on Banco Bradesco in a report on Monday, June 10th. They set a “sell” rating and a $9.58 price target on the stock. Finally, Zacks Investment Research upgraded Banco Bradesco from a “sell” rating to a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. Banco Bradesco presently has a consensus rating of “Hold” and a consensus price target of $10.29.
Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Friday, July 26th. The bank reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $6.38 billion. Banco Bradesco had a return on equity of 19.01% and a net margin of 16.16%. On average, sell-side analysts forecast that Banco Bradesco SA will post 0.79 earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.004 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.05 dividend on an annualized basis and a yield of 0.59%. Banco Bradesco’s dividend payout ratio (DPR) is currently 5.63%.
Banco Bradesco Company Profile
Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.
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