SPX Gestao de Recursos Ltda Grows Position in Banco Bradesco S.A. (NYSE:BBD)

SPX Gestao de Recursos Ltda boosted its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 217.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,608,320 shares of the bank’s stock after acquiring an additional 2,470,135 shares during the quarter. Banco Bradesco makes up approximately 1.3% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 19th biggest holding. SPX Gestao de Recursos Ltda’s holdings in Banco Bradesco were worth $9,598,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BBD. Blue Trust Inc. boosted its holdings in Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after acquiring an additional 5,623 shares in the last quarter. Townsquare Capital LLC bought a new stake in Banco Bradesco during the 3rd quarter valued at about $37,000. Insigneo Advisory Services LLC bought a new stake in shares of Banco Bradesco in the 2nd quarter worth $43,000. SG Americas Securities LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter valued at about $49,000. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Banco Bradesco by 110.5% during the 3rd quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock valued at $54,000 after acquiring an additional 10,500 shares during the last quarter.

Banco Bradesco Stock Performance

BBD remained flat at $2.06 during midday trading on Friday. The company’s stock had a trading volume of 5,713,789 shares, compared to its average volume of 23,030,123. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a fifty-two week low of $2.01 and a fifty-two week high of $3.65. The company’s 50-day moving average price is $2.42 and its 200-day moving average price is $2.48.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results 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. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. On average, analysts expect that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Increases Dividend

The company 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 an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.92%. Banco Bradesco’s payout ratio is presently 11.54%.

Analyst Upgrades and Downgrades

A number of 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 lifted their target price for the stock from $2.50 to $3.20 in a research report on Monday, August 19th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

About Banco Bradesco

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.