Ethic Inc. Has $354,000 Stock Holdings in Banco Bradesco SA $BBD

Ethic Inc. cut its holdings in Banco Bradesco SA (NYSE:BBD) by 24.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 116,840 shares of the bank’s stock after selling 38,814 shares during the quarter. Ethic Inc.’s holdings in Banco Bradesco were worth $354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BBD. Sequoia Financial Advisors LLC grew its position in shares of Banco Bradesco by 263.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank’s stock valued at $111,000 after purchasing an additional 36,177 shares during the period. Traveka Wealth LLC grew its position in shares of Banco Bradesco by 29.9% in the 1st quarter. Traveka Wealth LLC now owns 21,333 shares of the bank’s stock valued at $48,000 after purchasing an additional 4,910 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Banco Bradesco by 7.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 791,930 shares of the bank’s stock valued at $1,766,000 after purchasing an additional 55,304 shares during the period. ARGA Investment Management LP grew its position in shares of Banco Bradesco by 53.0% in the 1st quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank’s stock valued at $282,595,000 after purchasing an additional 43,884,334 shares during the period. Finally, M&T Bank Corp lifted its stake in Banco Bradesco by 18.6% in the 1st quarter. M&T Bank Corp now owns 95,136 shares of the bank’s stock valued at $212,000 after acquiring an additional 14,895 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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 assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.40.

Banco Bradesco Trading Up 4.2%

NYSE BBD opened at $3.53 on Thursday. The stock has a market capitalization of $37.58 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 0.41 and a beta of 0.75. The stock’s 50 day moving average price is $3.20 and its two-hundred day moving average price is $2.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.55.

Banco Bradesco (NYSE:BBD) last released its earnings results on Wednesday, October 29th. The bank reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. As a group, analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 8th. Stockholders of record on Wednesday, November 5th will be paid a dividend of $0.0035 per share. The ex-dividend date is Wednesday, November 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. Banco Bradesco’s dividend payout ratio is currently 8.57%.

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.