Blue Trust Inc. Has $30,000 Position in Banco Bradesco S.A. (NYSE:BBD)

Blue Trust Inc. increased its position in Banco Bradesco S.A. (NYSE:BBD) by 99.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,254 shares of the bank’s stock after buying an additional 5,623 shares during the period. Blue Trust Inc.’s holdings in Banco Bradesco were worth $30,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BBD. Doma Perpetual Capital Management LLC increased its holdings in Banco Bradesco by 403.4% in the second quarter. Doma Perpetual Capital Management LLC now owns 11,203,738 shares of the bank’s stock worth $25,096,000 after buying an additional 8,978,150 shares during the last quarter. Marshall Wace LLP increased its holdings in Banco Bradesco by 6,437.5% in the second quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock worth $17,705,000 after buying an additional 7,783,248 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in Banco Bradesco by 17.5% in the second quarter. Itau Unibanco Holding S.A. now owns 23,989,150 shares of the bank’s stock worth $51,963,000 after buying an additional 3,577,428 shares during the last quarter. Algebris UK Ltd acquired a new position in Banco Bradesco in the first quarter worth approximately $7,075,000. Finally, Millennium Management LLC boosted its position in Banco Bradesco by 44.9% during the second quarter. Millennium Management LLC now owns 7,629,716 shares of the bank’s stock worth $17,091,000 after purchasing an additional 2,364,963 shares during the period.

Banco Bradesco Stock Down 2.8 %

Shares of Banco Bradesco stock opened at $2.40 on Friday. The stock has a market capitalization of $25.58 billion, a P/E ratio of 9.23, a PEG ratio of 0.29 and a beta of 0.97. 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 stock has a 50 day moving average price of $2.70 and a two-hundred day moving average price of $2.56. Banco Bradesco S.A. has a 12-month low of $2.16 and a 12-month high of $3.65.

Banco Bradesco (NYSE:BBD) last announced 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. The firm had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. Equities analysts expect that Banco Bradesco S.A. will post 0.35 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 5th will be given a $0.002 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.02 annualized dividend and a dividend yield of 1.00%. Banco Bradesco’s dividend payout ratio is 11.54%.

Wall Street Analysts Forecast Growth

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

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.