Blue Trust Inc. Increases Holdings in Banco Bradesco SA $BBD

Blue Trust Inc. lifted its position in shares of Banco Bradesco SA (NYSE:BBD) by 35.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,550 shares of the bank’s stock after acquiring an additional 19,064 shares during the quarter. Blue Trust Inc.’s holdings in Banco Bradesco were worth $227,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Banco Bradesco by 14.2% during the 1st quarter. Northern Trust Corp now owns 4,701,855 shares of the bank’s stock worth $10,485,000 after acquiring an additional 584,838 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Banco Bradesco by 6.9% in the 1st quarter. Raymond James Financial Inc. now owns 1,803,157 shares of the bank’s stock valued at $4,021,000 after buying an additional 116,422 shares in the last quarter. Earnest Partners LLC lifted its stake in Banco Bradesco by 2.5% in the 1st quarter. Earnest Partners LLC now owns 21,864,348 shares of the bank’s stock valued at $48,757,000 after buying an additional 528,442 shares in the last quarter. American Century Companies Inc. lifted its stake in Banco Bradesco by 6.4% in the 1st quarter. American Century Companies Inc. now owns 5,865,375 shares of the bank’s stock valued at $13,080,000 after buying an additional 351,829 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Banco Bradesco by 75.9% in the 1st quarter. AQR Capital Management LLC now owns 5,048,938 shares of the bank’s stock valued at $11,259,000 after buying an additional 2,178,928 shares in the last quarter.

Banco Bradesco Trading Up 2.1%

Shares of BBD opened at $3.16 on Wednesday. The stock has a fifty day moving average of $3.11 and a two-hundred day moving average of $2.84. 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 company has a market capitalization of $33.58 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 0.38 and a beta of 0.75. 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 issued its quarterly 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 company had revenue of $5.87 billion during 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%. As a group, analysts forecast that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 8th. Shareholders of record on Wednesday, November 5th will be issued a $0.0035 dividend. The ex-dividend date is Wednesday, November 5th. This represents a c) annualized dividend and a yield of 1.3%. Banco Bradesco’s payout ratio is 8.57%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banco Bradesco in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Banco Bradesco presently has a consensus rating of “Hold” and a consensus price target of $2.40.

About Banco Bradesco

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.