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

Bleakley Financial Group LLC boosted its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 160,146 shares of the bank’s stock after purchasing an additional 20,982 shares during the quarter. Bleakley Financial Group LLC’s holdings in Banco Bradesco were worth $495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBD. Aprio Wealth Management LLC bought a new stake in Banco Bradesco during the 1st quarter valued at approximately $25,000. GAMMA Investing LLC raised its stake in Banco Bradesco by 92.7% during the 2nd quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock valued at $25,000 after purchasing an additional 3,864 shares during the period. Dorsey & Whitney Trust CO LLC bought a new stake in Banco Bradesco during the 1st quarter valued at approximately $26,000. BSW Wealth Partners bought a new stake in Banco Bradesco during the 1st quarter valued at approximately $29,000. Finally, Sigma Planning Corp bought a new stake in Banco Bradesco during the 1st quarter valued at approximately $43,000.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banco Bradesco in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.40.

Banco Bradesco Stock Performance

NYSE BBD opened at $3.36 on Monday. The company has a market cap of $35.70 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.41 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $3.17 and its 200-day moving average price is $2.91. Banco Bradesco SA has a fifty-two week low of $1.84 and a fifty-two week high of $3.41.

Banco Bradesco (NYSE:BBD) last released its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%. Sell-side analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

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

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.