Crossmark Global Holdings Inc. Increases Stake in Banco Bradesco S.A. (NYSE:BBD)

Crossmark Global Holdings Inc. grew its position in Banco Bradesco S.A. (NYSE:BBD) by 5.1% during the 3rd quarter, Holdings Channel reports. The fund owned 250,657 shares of the bank’s stock after buying an additional 12,228 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Banco Bradesco were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Inspire Investing LLC purchased a new stake in Banco Bradesco in the 1st quarter valued at approximately $29,000. Blue Trust Inc. boosted its stake in shares of 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 buying an additional 5,623 shares in the last quarter. Insigneo Advisory Services LLC acquired a new position in Banco Bradesco during the second quarter worth $43,000. Eagle Bay Advisors LLC raised its position in Banco Bradesco by 110.5% in the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock worth $54,000 after acquiring an additional 10,500 shares in the last quarter. Finally, Mayport LLC acquired a new stake in Banco Bradesco in the second quarter valued at $47,000.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock opened at $2.38 on Friday. The company has a 50-day moving average of $2.62 and a two-hundred day moving average of $2.54. 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 12-month low of $2.16 and a 12-month 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, beating the consensus estimate of $0.09 by $0.01. The firm 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%. Analysts expect 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. Investors of record on Wednesday, December 4th will be given a $0.0033 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a dividend yield of 1.67%. Banco Bradesco’s payout ratio is currently 11.54%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Company 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.