Eagle Bay Advisors LLC Has $54,000 Stake in Banco Bradesco S.A. (NYSE:BBD)

Eagle Bay Advisors LLC raised its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 110.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the bank’s stock after buying an additional 10,500 shares during the period. Eagle Bay Advisors LLC’s holdings in Banco Bradesco were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BBD. Inspire Investing LLC acquired a new stake in shares of Banco Bradesco in the first quarter valued at approximately $29,000. Blue Trust Inc. increased its holdings in shares of Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after purchasing an additional 5,623 shares in the last quarter. Insigneo Advisory Services LLC acquired a new stake in shares of Banco Bradesco in the second quarter valued at approximately $43,000. Mayport LLC acquired a new stake in shares of Banco Bradesco in the second quarter valued at approximately $47,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Banco Bradesco in the second quarter valued at approximately $49,000.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and raised their price target for the company from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Trading Down 1.1 %

Shares of Banco Bradesco stock traded down $0.03 during trading on Wednesday, reaching $2.61. 12,714,201 shares of the company were exchanged, compared to its average volume of 21,432,012. Banco Bradesco S.A. has a twelve month low of $2.16 and a twelve month high of $3.65. The business has a 50-day moving average price of $2.74 and a 200-day moving average price of $2.57. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 0.30 and a beta of 0.97.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The firm had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Sell-side analysts anticipate that Banco Bradesco S.A. will post 0.35 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.002 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Tuesday, November 5th. Banco Bradesco’s dividend payout ratio (DPR) is currently 13.04%.

Banco Bradesco Company Profile

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.