R Squared Ltd Makes New Investment in Banco Bradesco S.A. (NYSE:BBD)

R Squared Ltd acquired a new stake in Banco Bradesco S.A. (NYSE:BBD) during the fourth quarter, Holdings Channel.com reports. The firm acquired 15,900 shares of the bank’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBD. Blue Trust Inc. increased its position in Banco Bradesco by 78.2% in the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock valued at $38,000 after buying an additional 8,801 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Banco Bradesco in the fourth quarter worth $68,000. Traveka Wealth LLC bought a new stake in Banco Bradesco during the fourth quarter valued at $31,000. Eagle Bay Advisors LLC boosted its stake in Banco Bradesco by 37.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank’s stock valued at $54,000 after buying an additional 7,400 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Banco Bradesco by 152.6% during the third quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank’s stock valued at $731,000 after purchasing an additional 166,008 shares in the last quarter.

Banco Bradesco Stock Up 0.2 %

BBD stock opened at $2.12 on Tuesday. Banco Bradesco S.A. has a 52 week low of $1.84 and a 52 week high of $3.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $22.51 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 0.26 and a beta of 0.94. The firm has a 50 day moving average of $2.00 and a 200 day moving average of $2.38.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.0031 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.04 annualized dividend and a yield of 1.76%. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BBD shares. HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a research note on Monday, January 13th. The Goldman Sachs Group decreased their target price on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

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.