DAVENPORT & Co LLC Increases Holdings in Banco Bradesco SA $BBD

DAVENPORT & Co LLC lifted its position in shares of Banco Bradesco SA (NYSE:BBD) by 37.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,495 shares of the bank’s stock after acquiring an additional 13,460 shares during the quarter. DAVENPORT & Co LLC’s holdings in Banco Bradesco were worth $153,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BBD. Sagespring Wealth Partners LLC purchased a new stake in shares of Banco Bradesco during the 1st quarter worth approximately $41,000. Blue Trust Inc. lifted its stake in Banco Bradesco by 48.5% in the 1st quarter. Blue Trust Inc. now owns 54,486 shares of the bank’s stock valued at $122,000 after buying an additional 17,787 shares in the last quarter. Bessemer Group Inc. grew its holdings in Banco Bradesco by 14.3% during the 1st quarter. Bessemer Group Inc. now owns 5,052,355 shares of the bank’s stock valued at $11,266,000 after buying an additional 632,647 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Banco Bradesco by 263.5% during the first quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank’s stock worth $111,000 after buying an additional 36,177 shares in the last quarter. Finally, PDS Planning Inc increased its position in Banco Bradesco by 48.2% during the first quarter. PDS Planning Inc now owns 28,765 shares of the bank’s stock worth $64,000 after buying an additional 9,349 shares in the last quarter.

Banco Bradesco Trading Up 1.1%

Shares of BBD opened at $3.10 on Tuesday. 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 $32.94 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 0.37 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, November 10th. Shareholders of record on Friday, October 3rd will be issued a $0.0036 dividend. The ex-dividend date is Friday, October 3rd. This represents a c) annualized dividend and a yield of 1.4%. Banco Bradesco’s payout ratio is 8.57%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Banco Bradesco in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.