Headlands Technologies LLC Has $1.04 Million Position in Banco Bradesco S.A. (NYSE:BBD)

Headlands Technologies LLC lifted its stake in Banco Bradesco S.A. (NYSE:BBD) by 415.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 464,173 shares of the bank’s stock after purchasing an additional 374,168 shares during the period. Headlands Technologies LLC’s holdings in Banco Bradesco were worth $1,040,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Daiwa Securities Group Inc. increased its holdings in shares of Banco Bradesco by 1.1% in the second quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock valued at $1,605,000 after purchasing an additional 8,000 shares in the last quarter. Longfellow Investment Management Co. LLC boosted its stake in Banco Bradesco by 63.7% in the second quarter. Longfellow Investment Management Co. LLC now owns 503,398 shares of the bank’s stock valued at $1,128,000 after acquiring an additional 195,863 shares during the last quarter. Ballentine Partners LLC boosted its stake in Banco Bradesco by 93.1% in the second quarter. Ballentine Partners LLC now owns 87,520 shares of the bank’s stock valued at $196,000 after acquiring an additional 42,199 shares during the last quarter. Candriam S.C.A. bought a new position in Banco Bradesco in the second quarter valued at approximately $115,000. Finally, Banco Santander S.A. boosted its stake in Banco Bradesco by 50.5% in the second quarter. Banco Santander S.A. now owns 2,547,166 shares of the bank’s stock valued at $5,706,000 after acquiring an additional 854,212 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Banco Bradesco Price Performance

Shares of BBD stock opened at $2.77 on Thursday. Banco Bradesco S.A. has a 52-week low of $2.16 and a 52-week high of $3.65. The stock has a market cap of $29.47 billion, a PE ratio of 12.02, a PEG ratio of 0.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50 day moving average price is $2.55 and its two-hundred day moving average price is $2.60.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. As a group, analysts forecast that Banco Bradesco S.A. will post 0.35 EPS for the current year.

Banco Bradesco Dividend Announcement

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

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.