Caprock Group LLC Lowers Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

Caprock Group LLC reduced its position in Banco Bradesco S.A. (NYSE:BBD) by 59.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,264 shares of the bank’s stock after selling 20,882 shares during the period. Caprock Group LLC’s holdings in Banco Bradesco were worth $32,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Inspire Investing LLC purchased a new position in Banco Bradesco in the 1st quarter worth approximately $29,000. Aigen Investment Management LP purchased a new position in Banco Bradesco in the 4th quarter worth approximately $43,000. Vanguard Personalized Indexing Management LLC purchased a new position in Banco Bradesco in the 4th quarter worth approximately $46,000. Ieq Capital LLC raised its holdings in Banco Bradesco by 24.7% in the 4th quarter. Ieq Capital LLC now owns 20,714 shares of the bank’s stock worth $72,000 after acquiring an additional 4,103 shares during the last quarter. Finally, Mayport LLC purchased a new position in Banco Bradesco in the 2nd quarter worth approximately $47,000.

Banco Bradesco Stock Up 0.7 %

BBD stock opened at $2.80 on Friday. The company has a market cap of $29.84 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.31 and a beta of 0.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50-day moving average is $2.57 and its two-hundred day moving average is $2.60. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week 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 for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. As a group, analysts forecast that Banco Bradesco S.A. will post 0.35 earnings per share for the current year.

Banco Bradesco Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio is presently 13.04%.

Analyst Upgrades and Downgrades

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