Bleakley Financial Group LLC Acquires 20,982 Shares of Banco Bradesco SA $BBD

Bleakley Financial Group LLC raised its holdings in Banco Bradesco SA (NYSE:BBD) by 15.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 160,146 shares of the bank’s stock after buying an additional 20,982 shares during the period. Bleakley Financial Group LLC’s holdings in Banco Bradesco were worth $495,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BBD. Sequoia Financial Advisors LLC grew its position in Banco Bradesco by 263.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank’s stock valued at $111,000 after acquiring an additional 36,177 shares during the last quarter. PDS Planning Inc grew its position in Banco Bradesco by 48.2% in the 1st quarter. PDS Planning Inc now owns 28,765 shares of the bank’s stock valued at $64,000 after acquiring an additional 9,349 shares during the last quarter. BSW Wealth Partners bought a new position in Banco Bradesco in the 1st quarter valued at $29,000. Traveka Wealth LLC grew its position in Banco Bradesco by 29.9% in the 1st quarter. Traveka Wealth LLC now owns 21,333 shares of the bank’s stock valued at $48,000 after acquiring an additional 4,910 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Banco Bradesco by 7.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 791,930 shares of the bank’s stock valued at $1,766,000 after acquiring an additional 55,304 shares during the last quarter.

Banco Bradesco Price Performance

BBD opened at $3.36 on Monday. Banco Bradesco SA has a 12-month low of $1.84 and a 12-month high of $3.41. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $3.17 and its 200-day simple moving average is $2.91. The company has a market capitalization of $35.70 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 0.41 and a beta of 0.75.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. On average, equities research analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 8th. Investors of record on Wednesday, November 5th will be paid a dividend of $0.0035 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 5th. Banco Bradesco’s dividend payout ratio is 8.57%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banco Bradesco in a research report on Friday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Banco Bradesco has an average rating of “Hold” and a consensus price target of $2.40.

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.