Kovitz Investment Group Partners LLC Cuts Position in Banco Bradesco SA $BBD

Kovitz Investment Group Partners LLC trimmed its position in shares of Banco Bradesco SA (NYSE:BBD) by 63.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,002 shares of the bank’s stock after selling 24,528 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Banco Bradesco were worth $31,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Simplicity Wealth LLC purchased a new stake in shares of Banco Bradesco during the first quarter worth approximately $26,000. BSW Wealth Partners purchased a new stake in Banco Bradesco during the first quarter worth approximately $29,000. Merit Financial Group LLC purchased a new stake in Banco Bradesco during the first quarter worth approximately $37,000. Sagespring Wealth Partners LLC purchased a new stake in Banco Bradesco during the first quarter worth approximately $41,000. Finally, Sigma Planning Corp purchased a new stake in Banco Bradesco during the first quarter worth approximately $43,000.

Banco Bradesco Trading Up 3.3%

NYSE:BBD opened at $2.9850 on Friday. The stock’s 50 day moving average price is $2.94 and its 200 day moving average price is $2.57. The company has a market capitalization of $31.77 billion, a PE ratio of 8.53, a P/E/G ratio of 0.41 and a beta of 0.68. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. Banco Bradesco SA has a 52-week low of $1.84 and a 52-week high of $3.13.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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%. On average, research analysts anticipate that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, September 11th. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.0023 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a yield of 99.0%. This is a boost from Banco Bradesco’s previous dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 8.57%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BBD. Bank of America upgraded Banco Bradesco from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. Citigroup upgraded Banco Bradesco from a “hold” rating to a “buy” rating in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.40.

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.