Banque Cantonale Vaudoise Sells 500,000 Shares of Banco Bradesco S.A. (NYSE:BBD)

Banque Cantonale Vaudoise cut its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 57.8% during the 2nd quarter, Holdings Channel reports. The fund owned 365,590 shares of the bank’s stock after selling 500,000 shares during the period. Banque Cantonale Vaudoise’s holdings in Banco Bradesco were worth $817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BBD. Inspire Investing LLC bought a new position in Banco Bradesco during the first quarter worth $29,000. Savvy Advisors Inc. acquired a new position in Banco Bradesco during the fourth quarter worth $35,000. Aigen Investment Management LP acquired a new position in Banco Bradesco during the fourth quarter worth $43,000. Vanguard Personalized Indexing Management LLC acquired a new position in Banco Bradesco during the fourth quarter worth $46,000. Finally, Mayport LLC acquired a new position in Banco Bradesco during the second quarter worth $47,000.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Down 0.4 %

Banco Bradesco stock opened at $2.78 on Monday. The firm has a 50 day simple moving average of $2.45 and a 200 day simple moving average of $2.60. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. Banco Bradesco S.A. has a 1-year low of $2.16 and a 1-year high of $3.65.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. On average, sell-side analysts expect that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.0035 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.50%. Banco Bradesco’s dividend payout ratio (DPR) is 13.04%.

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.