Candriam S.C.A. Takes Position in Banco Bradesco S.A. (NYSE:BBD)

Candriam S.C.A. purchased a new position in shares of Banco Bradesco S.A. (NYSE:BBD) during the second quarter, HoldingsChannel reports. The firm purchased 51,535 shares of the bank’s stock, valued at approximately $115,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Savvy Advisors Inc. acquired a new position in shares of Banco Bradesco during the fourth quarter worth approximately $35,000. Inspire Investing LLC bought a new stake in Banco Bradesco during the 1st quarter valued at $29,000. Aigen Investment Management LP bought a new stake in Banco Bradesco during the 4th quarter valued at $43,000. Vanguard Personalized Indexing Management LLC acquired a new position in Banco Bradesco during the fourth quarter worth $46,000. Finally, Ieq Capital LLC lifted its stake in shares of Banco Bradesco by 24.7% in the fourth quarter. Ieq Capital LLC now owns 20,714 shares of the bank’s stock valued at $72,000 after buying an additional 4,103 shares in the last quarter.

Banco Bradesco Stock Down 0.9 %

Shares of NYSE:BBD opened at $2.77 on Thursday. The business’s 50 day moving average is $2.55 and its 200 day moving average is $2.60. Banco Bradesco S.A. has a 12-month low of $2.16 and a 12-month high of $3.65. The stock has a market cap of $29.47 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.32 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.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data 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. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The firm had revenue of $9.64 billion for the quarter, compared to the consensus estimate of $5.47 billion. On average, sell-side analysts forecast that Banco Bradesco S.A. will post 0.35 earnings per share for the current fiscal year.

Banco Bradesco Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a yield of 1.51%. The ex-dividend date is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 13.04%.

Wall Street Analysts Forecast Growth

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

Banco Bradesco 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.