SPX Gestao de Recursos Ltda Raises Holdings in Banco Bradesco S.A. (NYSE:BBD)

SPX Gestao de Recursos Ltda boosted its stake in Banco Bradesco S.A. (NYSE:BBD) by 995.9% in the 2nd quarter, Holdings Channel reports. The firm owned 1,138,185 shares of the bank’s stock after buying an additional 1,034,329 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in Banco Bradesco were worth $2,550,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BBD. Silvercrest Asset Management Group LLC boosted its stake in Banco Bradesco by 27.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after acquiring an additional 4,550 shares during the last quarter. Inspire Advisors LLC raised its stake in shares of Banco Bradesco by 9.5% in the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after buying an additional 4,737 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Banco Bradesco by 3.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 163,471 shares of the bank’s stock worth $468,000 after purchasing an additional 5,383 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Banco Bradesco by 1.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 321,042 shares of the bank’s stock worth $1,123,000 after buying an additional 5,861 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Banco Bradesco by 15.3% in the 1st quarter. Ballentine Partners LLC now owns 45,321 shares of the bank’s stock worth $130,000 after acquiring an additional 6,020 shares during the last quarter.

Banco Bradesco Stock Down 1.7 %

Shares of BBD stock opened at $2.67 on Tuesday. Banco Bradesco S.A. has a 12 month low of $2.16 and a 12 month high of $3.65. The stock has a 50 day moving average of $2.65 and a 200-day moving average of $2.59. The firm has a market cap of $28.40 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.29 and a beta of 0.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Monday, August 5th. The bank reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. On average, equities analysts predict that Banco Bradesco S.A. will post 0.35 EPS for the current year.

Banco Bradesco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.0026 dividend. This represents a yield of 1.17%. The ex-dividend date of this dividend is Thursday, October 3rd. Banco Bradesco’s payout ratio is presently 78.26%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and increased their target price for the company 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.