Wetherby Asset Management Inc. Grows Stake in Banco Bradesco SA (NYSE:BBD)

Wetherby Asset Management Inc. raised its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 28.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,332 shares of the bank’s stock after buying an additional 22,217 shares during the period. Wetherby Asset Management Inc.’s holdings in Banco Bradesco were worth $975,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Banco Bradesco by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 66,279 shares of the bank’s stock worth $655,000 after purchasing an additional 4,081 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Banco Bradesco by 125.8% during the 4th quarter. Advisor Group Inc. now owns 8,350 shares of the bank’s stock worth $83,000 after purchasing an additional 4,652 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Banco Bradesco by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,005,735 shares of the bank’s stock worth $148,416,000 after purchasing an additional 148,882 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Banco Bradesco during the 4th quarter worth $1,991,000. Finally, American Century Companies Inc. acquired a new stake in shares of Banco Bradesco during the 4th quarter worth $2,568,000. Institutional investors and hedge funds own 2.11% of the company’s stock.

Several research firms have recently issued reports on BBD. Morgan Stanley raised Banco Bradesco from an “equal weight” rating to an “overweight” rating in a report on Wednesday. Zacks Investment Research lowered Banco Bradesco from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Goldman Sachs Group began coverage on Banco Bradesco in a report on Monday, June 10th. They set a “sell” rating and a $9.58 target price on the stock. Finally, ValuEngine lowered Banco Bradesco from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. Banco Bradesco has an average rating of “Sell” and an average target price of $10.29.

Shares of BBD traded up $0.02 during trading hours on Wednesday, hitting $8.62. 651,291 shares of the company were exchanged, compared to its average volume of 13,060,780. The stock has a market capitalization of $84.53 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 0.50 and a beta of 0.93. Banco Bradesco SA has a fifty-two week low of $5.41 and a fifty-two week high of $10.55. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79. The business’s fifty day simple moving average is $9.74.

The firm also recently disclosed a dividend, which was paid on Monday, July 22nd. Investors of record on Tuesday, July 2nd were paid a $0.037 dividend. The ex-dividend date of this dividend was Monday, July 1st. This is a positive change from Banco Bradesco’s previous dividend of $0.01. Banco Bradesco’s dividend payout ratio (DPR) is 7.04%.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

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