Renaissance Technologies LLC raised its position in shares of Banco Bradesco SA (NYSE:BBD – Free Report) by 103.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,315,995 shares of the bank’s stock after buying an additional 6,276,800 shares during the period. Renaissance Technologies LLC’s holdings in Banco Bradesco were worth $44,953,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after acquiring an additional 4,353 shares in the last quarter. Brooklyn Investment Group increased its holdings in Banco Bradesco by 1,276.5% during the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock valued at $36,000 after purchasing an additional 9,842 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Banco Bradesco during the 1st quarter valued at $43,000. Checchi Capital Advisers LLC bought a new position in Banco Bradesco in the 4th quarter valued at $39,000. Finally, Ballentine Partners LLC acquired a new position in Banco Bradesco in the fourth quarter worth $41,000.
Analysts Set New Price Targets
Separately, Weiss Ratings cut Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.
Banco Bradesco Trading Up 1.2%
BBD opened at $3.65 on Tuesday. Banco Bradesco SA has a 1-year low of $2.73 and a 1-year high of $4.30. The stock has a market capitalization of $38.63 billion, a PE ratio of 9.35, a PEG ratio of 0.45 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. The firm has a 50-day moving average price of $3.49 and a two-hundred day moving average price of $3.71.
Banco Bradesco (NYSE:BBD – Get Free Report) last announced its earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) for the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. The company had revenue of $1.50 billion for the quarter. As a group, equities analysts anticipate that Banco Bradesco SA will post 0.5 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 Wednesday, September 9th. Investors of record on Wednesday, August 5th will be given a $0.0037 dividend. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco’s payout ratio is 5.13%.
About Banco Bradesco
Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.
The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.
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