Federated Investors Inc. PA purchased a new position in Banco Bradesco SA (NYSE:BBD) in the third quarter, Holdings Channel reports. The institutional investor purchased 35,346 shares of the bank’s stock, valued at approximately $250,000.
Other hedge funds also recently added to or reduced their stakes in the company. Athena Capital Advisors LLC purchased a new position in Banco Bradesco in the 3rd quarter worth approximately $101,000. Henry James International Management Inc. purchased a new position in Banco Bradesco in the 3rd quarter worth approximately $103,000. Flow Traders U.S. LLC purchased a new stake in shares of Banco Bradesco in the 3rd quarter valued at $113,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Banco Bradesco in the 3rd quarter valued at $117,000. Finally, HRT Financial LLC purchased a new stake in shares of Banco Bradesco in the 2nd quarter valued at $132,000. 3.25% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. ValuEngine cut shares of Banco Bradesco from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Thursday, November 22nd. Morgan Stanley raised shares of Banco Bradesco from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 9th. Finally, HSBC cut shares of Banco Bradesco from a “hold” rating to a “reduce” rating in a research note on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $11.00.
Shares of Banco Bradesco stock opened at $11.03 on Wednesday. Banco Bradesco SA has a 52-week low of $6.49 and a 52-week high of $13.18. The firm has a market capitalization of $72.83 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.64 and a beta of 1.04.
Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, November 1st. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. Banco Bradesco had a net margin of 14.27% and a return on equity of 17.38%. The company had revenue of $8.44 billion during the quarter. As a group, analysts forecast that Banco Bradesco SA will post 0.84 earnings per share for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Friday, March 8th. Stockholders of record on Tuesday, February 5th will be paid a $0.005 dividend. This is a boost from Banco Bradesco’s previous special dividend of $0.00. The ex-dividend date of this dividend is Monday, February 4th. Banco Bradesco’s dividend payout ratio is 5.62%.
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Banco Bradesco Company Profile
Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.
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