Thrivent Financial for Lutherans Sells 82,743 Shares of Banco Bradesco S.A. (NYSE:BBD)

Thrivent Financial for Lutherans lessened its holdings in Banco Bradesco S.A. (NYSE:BBD) by 33.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,026 shares of the bank’s stock after selling 82,743 shares during the period. Thrivent Financial for Lutherans’ holdings in Banco Bradesco were worth $439,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC raised its position in shares of Banco Bradesco by 405.8% during the 1st quarter. Jane Street Group LLC now owns 1,669,232 shares of the bank’s stock valued at $4,774,000 after buying an additional 1,339,244 shares in the last quarter. Simplicity Wealth LLC boosted its holdings in shares of Banco Bradesco by 11.9% in the 2nd quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock worth $173,000 after purchasing an additional 8,165 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Banco Bradesco in the 2nd quarter worth about $49,000. Mayport LLC purchased a new position in shares of Banco Bradesco during the 2nd quarter valued at about $47,000. Finally, GAM Holding AG raised its holdings in shares of Banco Bradesco by 33.3% during the 2nd quarter. GAM Holding AG now owns 100,000 shares of the bank’s stock valued at $224,000 after buying an additional 25,000 shares in the last quarter.

Banco Bradesco Stock Performance

Banco Bradesco stock opened at $2.12 on Friday. Banco Bradesco S.A. has a fifty-two week low of $2.02 and a fifty-two week high of $3.65. The stock has a market cap of $22.60 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 0.24 and a beta of 0.94. The stock’s 50 day simple moving average is $2.48 and its two-hundred day simple moving average is $2.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. As a group, analysts expect that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. This represents a $0.04 annualized dividend and a yield of 1.87%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is currently 11.54%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price target for the company 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.