Sagil Capital LLP Has $19.10 Million Position in Banco Bradesco S.A. (NYSE:BBD)

Sagil Capital LLP reduced its stake in Banco Bradesco S.A. (NYSE:BBD) by 19.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,179,411 shares of the bank’s stock after selling 1,680,986 shares during the quarter. Banco Bradesco accounts for 11.7% of Sagil Capital LLP’s portfolio, making the stock its largest position. Sagil Capital LLP’s holdings in Banco Bradesco were worth $19,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BBD. Dynamic Technology Lab Private Ltd boosted its position in Banco Bradesco by 907.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 297,687 shares of the bank’s stock worth $792,000 after acquiring an additional 268,128 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Banco Bradesco by 19.2% in the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after purchasing an additional 12,228,662 shares in the last quarter. Citigroup Inc. boosted its holdings in Banco Bradesco by 1,497.2% during the third quarter. Citigroup Inc. now owns 6,095,475 shares of the bank’s stock worth $16,214,000 after purchasing an additional 5,713,831 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Banco Bradesco by 170.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after purchasing an additional 55,444,555 shares during the last quarter. Finally, West Family Investments Inc. grew its position in Banco Bradesco by 176.6% in the third quarter. West Family Investments Inc. now owns 75,525 shares of the bank’s stock valued at $201,000 after purchasing an additional 48,224 shares in the last quarter.

Banco Bradesco Price Performance

BBD remained flat at $2.38 during trading on Monday. 689,211 shares of the company were exchanged, compared to its average volume of 21,959,713. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $2.57 and its 200 day moving average price is $2.53. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. On average, research analysts forecast that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.0033 dividend. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 annualized dividend and a yield of 1.67%. Banco Bradesco’s dividend payout ratio is currently 11.54%.

Analysts Set New Price Targets

Several equities research analysts have commented on BBD shares. The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2.50 to $3.20 in a research report on Monday, August 19th. JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday.

Banco Bradesco Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.