Dorsey & Whitney Trust CO LLC Sells 4,486 Shares of Banco Bradesco S.A. (NYSE:BBD)

Dorsey & Whitney Trust CO LLC trimmed its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 14.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 25,713 shares of the bank’s stock after selling 4,486 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Banco Bradesco were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Investing LLC bought a new position in shares of Banco Bradesco during the 1st quarter valued at $29,000. Aigen Investment Management LP bought a new position in shares of Banco Bradesco during the 4th quarter valued at $43,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Banco Bradesco during the 4th quarter valued at $46,000. Ieq Capital LLC lifted its holdings in shares of Banco Bradesco by 24.7% during the 4th quarter. Ieq Capital LLC now owns 20,714 shares of the bank’s stock valued at $72,000 after buying an additional 4,103 shares during the period. Finally, Mayport LLC bought a new position in shares of Banco Bradesco during the 2nd quarter valued at $47,000.

Wall Street Analyst Weigh In

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

Banco Bradesco Price Performance

Shares of Banco Bradesco stock opened at $2.78 on Friday. Banco Bradesco S.A. has a one year low of $2.16 and a one year high of $3.65. The stock’s fifty day moving average is $2.56 and its 200 day moving average is $2.60. The stock has a market cap of $29.63 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Monday, August 5th. The bank reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The business had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Sell-side analysts anticipate that Banco Bradesco S.A. will post 0.35 earnings per share for the current year.

Banco Bradesco Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be given a $0.0035 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.04 annualized dividend and a dividend yield of 1.50%. Banco Bradesco’s payout ratio 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.