Quantbot Technologies LP Raises Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Quantbot Technologies LP raised its holdings in Banco Bradesco S.A. (NYSE:BBD) by 123.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,204,414 shares of the bank’s stock after purchasing an additional 664,471 shares during the quarter. Quantbot Technologies LP’s holdings in Banco Bradesco were worth $2,698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its stake in shares of Banco Bradesco by 13.0% in the fourth quarter. Truist Financial Corp now owns 71,973 shares of the bank’s stock worth $252,000 after buying an additional 8,297 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Banco Bradesco during the 4th quarter worth approximately $46,000. PNC Financial Services Group Inc. increased its holdings in shares of Banco Bradesco by 26.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 209,030 shares of the bank’s stock valued at $732,000 after purchasing an additional 43,837 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Banco Bradesco in the 4th quarter valued at $43,000. Finally, IPG Investment Advisors LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at $95,000.

Banco Bradesco Stock Up 0.4 %

Shares of BBD opened at $2.80 on Wednesday. The firm has a market cap of $29.84 billion, a P/E ratio of 12.17, a PEG ratio of 0.31 and a beta of 0.98. Banco Bradesco S.A. has a 12 month low of $2.16 and a 12 month high of $3.65. The stock’s 50 day moving average is $2.59 and its two-hundred day moving average is $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 (NYSE:BBD) last issued its quarterly earnings results on Monday, August 5th. The bank reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $9.64 billion during the quarter, compared to analyst estimates of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. Analysts predict that Banco Bradesco S.A. will post 0.35 earnings per share for the current fiscal year.

Banco Bradesco Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.