Renaissance Technologies LLC Sells 2,147,400 Shares of Banco Bradesco S.A. (NYSE:BBD)

Renaissance Technologies LLC lowered its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 44.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,687,695 shares of the bank’s stock after selling 2,147,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Banco Bradesco were worth $6,020,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Inspire Investing LLC acquired a new position in shares of Banco Bradesco in the 1st quarter valued at about $29,000. Vanguard Personalized Indexing Management LLC acquired a new position in Banco Bradesco in the fourth quarter valued at approximately $46,000. Mayport LLC bought a new position in shares of Banco Bradesco during the 2nd quarter worth approximately $47,000. SG Americas Securities LLC acquired a new stake in shares of Banco Bradesco during the 2nd quarter worth approximately $49,000. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Banco Bradesco by 27.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after acquiring an additional 4,550 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Price Performance

BBD stock opened at $2.67 on Friday. The stock’s 50 day simple moving average is $2.62 and its 200 day simple moving average is $2.60. 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 S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65.

Banco Bradesco (NYSE:BBD) last issued its 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. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The company had revenue of $9.64 billion for the quarter, compared to analyst estimates of $5.47 billion. Equities research analysts forecast that Banco Bradesco S.A. will post 0.35 EPS for the current fiscal year.

Banco Bradesco Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, October 2nd will be paid a $0.0035 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Wednesday, October 2nd. Banco Bradesco’s dividend payout ratio (DPR) is 13.04%.

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.