US Bancorp DE reduced its position in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 92.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,921 shares of the bank's stock after selling 244,278 shares during the period. US Bancorp DE's holdings in Banco Bradesco were worth $40,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of BBD. Townsquare Capital LLC acquired a new position in Banco Bradesco during the 3rd quarter worth approximately $37,000. R Squared Ltd acquired a new position in Banco Bradesco during the 4th quarter worth approximately $30,000. Traveka Wealth LLC acquired a new position in Banco Bradesco during the 4th quarter worth approximately $31,000. Blue Trust Inc. lifted its position in Banco Bradesco by 78.2% during the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock worth $38,000 after acquiring an additional 8,801 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in Banco Bradesco by 23.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank's stock worth $59,000 after acquiring an additional 4,260 shares in the last quarter.
Analyst Ratings Changes
Several equities analysts recently commented on BBD shares. JPMorgan Chase & Co. lowered Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th. The Goldman Sachs Group lowered Banco Bradesco from a "buy" rating to a "sell" rating and reduced their price target for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th. Finally, HSBC raised Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price on the stock in a research report on Monday, January 13th.
View Our Latest Stock Report on BBD
Banco Bradesco Stock Performance
Shares of NYSE BBD traded up $0.03 during trading on Friday, reaching $2.24. The stock had a trading volume of 31,126,121 shares, compared to its average volume of 29,777,103. Banco Bradesco S.A. has a one year low of $1.84 and a one year high of $2.98. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. The stock has a market cap of $23.79 billion, a PE ratio of 7.45, a P/E/G ratio of 0.32 and a beta of 0.94. The firm's 50 day moving average price is $2.06 and its two-hundred day moving average price is $2.27.
Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, research analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.
Banco Bradesco Increases Dividend
The business also recently disclosed a monthly dividend, which will be paid on Friday, May 9th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.0033 per share. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, April 3rd. Banco Bradesco's dividend payout ratio is presently 6.67%.
Banco Bradesco Company Profile
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Free Report)
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.
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