First Affirmative Financial Network Boosts Holdings in Banco Bradesco S.A. (NYSE:BBD)

First Affirmative Financial Network increased its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 36.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 61,581 shares of the bank’s stock after purchasing an additional 16,324 shares during the quarter. First Affirmative Financial Network’s holdings in Banco Bradesco were worth $137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BBD. Merit Financial Group LLC purchased a new position in shares of Banco Bradesco during the first quarter worth about $37,000. Legacy Wealth Asset Management LLC boosted its position in shares of Banco Bradesco by 48.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 191,831 shares of the bank’s stock valued at $428,000 after purchasing an additional 62,540 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Banco Bradesco during the 4th quarter worth approximately $13,097,000. Vident Advisory LLC grew its stake in Banco Bradesco by 87.3% during the 4th quarter. Vident Advisory LLC now owns 65,112 shares of the bank’s stock worth $124,000 after buying an additional 30,351 shares during the last quarter. Finally, Man Group plc acquired a new position in Banco Bradesco during the fourth quarter worth approximately $173,000.

Analyst Upgrades and Downgrades

BBD has been the subject of several research analyst reports. Citigroup raised Banco Bradesco from a “hold” rating to a “buy” rating in a report on Wednesday, May 28th. The Goldman Sachs Group cut shares of Banco Bradesco from a “buy” rating to a “sell” rating and decreased their price target for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th. Finally, Bank of America raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Banco Bradesco has a consensus rating of “Hold” and a consensus target price of $2.40.

Banco Bradesco Price Performance

BBD opened at $2.89 on Friday. Banco Bradesco S.A. has a 52 week low of $1.84 and a 52 week high of $3.02. The business has a 50 day moving average price of $2.50 and a two-hundred day moving average price of $2.22. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The company has a market cap of $30.76 billion, a PE ratio of 9.63, a P/E/G ratio of 0.32 and a beta of 0.71.

Banco Bradesco (NYSE:BBD) last released its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The business had revenue of $5.69 billion for the quarter, compared to analyst estimates of $31.24 billion. As a group, research analysts anticipate that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.0021 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a yield of 0.88%. Banco Bradesco’s payout ratio is currently 6.25%.

Banco Bradesco 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.