Banco Bradesco SA $BBD Shares Sold by Perpetual Ltd

Perpetual Ltd trimmed its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 16.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,994,402 shares of the bank’s stock after selling 605,532 shares during the period. Perpetual Ltd’s holdings in Banco Bradesco were worth $10,540,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BBD. Global Wealth Strategies & Associates acquired a new position in Banco Bradesco in the second quarter worth approximately $38,000. Diversify Wealth Management LLC acquired a new stake in shares of Banco Bradesco during the 1st quarter valued at $43,000. Wayfinding Financial LLC acquired a new stake in shares of Banco Bradesco during the 2nd quarter valued at $40,000. Tenzing Financial LLC bought a new stake in shares of Banco Bradesco during the 4th quarter worth $48,000. Finally, Modern Wealth Management LLC bought a new stake in shares of Banco Bradesco during the 1st quarter worth $55,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BBD shares. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. Bradesco Corretora raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $4.20 target price on shares of Banco Bradesco in a report on Friday. Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Finally, HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 target price for the company. in a report on Thursday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Banco Bradesco currently has a consensus rating of “Moderate Buy” and an average price target of $4.05.

Banco Bradesco Trading Down 0.6%

NYSE BBD opened at $4.28 on Tuesday. The firm’s 50 day moving average price is $3.48 and its two-hundred day moving average price is $3.57. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. Banco Bradesco SA has a twelve month low of $2.98 and a twelve month high of $4.58. The stock has a market cap of $45.30 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.66 and a beta of 0.46.

Banco Bradesco (NYSE:BBD) last released its earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Equities analysts anticipate that Banco Bradesco SA will post 0.50 EPS for the current year.

Banco Bradesco Announces Dividend

The firm also recently declared a special dividend, which will be paid on Monday, May 10th. Investors of record on Thursday, October 15th will be given a dividend of $0.0728 per share. The ex-dividend date of this dividend is Thursday, October 15th. Banco Bradesco’s payout ratio is presently 7.14%.

Banco Bradesco Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.