B. Metzler seel. Sohn & Co. Holding AG Takes Position in Banco Bradesco S.A. (NYSE:BBD)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Banco Bradesco S.A. (NYSE:BBD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 729,559 shares of the bank’s stock, valued at approximately $1,941,000.

A number of other hedge funds have also bought and sold shares of BBD. Boston Partners purchased a new position in shares of Banco Bradesco during the first quarter valued at approximately $681,000. Sei Investments Co. raised its stake in Banco Bradesco by 1.9% during the 2nd quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock valued at $48,788,000 after buying an additional 411,616 shares during the last quarter. Marshall Wace LLP raised its stake in Banco Bradesco by 6,437.5% during the 2nd quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after buying an additional 7,783,248 shares during the last quarter. Oaktree Fund Advisors LLC lifted its holdings in shares of Banco Bradesco by 1.0% during the 2nd quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock valued at $8,343,000 after buying an additional 35,111 shares during the period. Finally, Atomi Financial Group Inc. boosted its stake in shares of Banco Bradesco by 67.3% in the 2nd quarter. Atomi Financial Group Inc. now owns 89,818 shares of the bank’s stock worth $201,000 after buying an additional 36,125 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Down 0.8 %

Shares of NYSE BBD opened at $2.39 on Friday. Banco Bradesco S.A. has a 12-month low of $2.16 and a 12-month high of $3.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a 50 day moving average of $2.58 and a 200 day moving average of $2.53.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. Sell-side analysts expect that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.0033 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.66%. Banco Bradesco’s dividend payout ratio is presently 11.54%.

Banco Bradesco 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.