Creative Planning Sells 82,761 Shares of Banco Bradesco S.A. (NYSE:BBD)

Creative Planning lessened its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 25.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 237,215 shares of the bank’s stock after selling 82,761 shares during the period. Creative Planning’s holdings in Banco Bradesco were worth $531,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Scientech Research LLC acquired a new position in shares of Banco Bradesco during the 2nd quarter worth about $186,000. Millennium Management LLC grew its holdings in Banco Bradesco by 44.9% during the second quarter. Millennium Management LLC now owns 7,629,716 shares of the bank’s stock worth $17,091,000 after purchasing an additional 2,364,963 shares during the period. Doma Perpetual Capital Management LLC increased its position in Banco Bradesco by 403.4% during the second quarter. Doma Perpetual Capital Management LLC now owns 11,203,738 shares of the bank’s stock worth $25,096,000 after buying an additional 8,978,150 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Banco Bradesco by 67.3% in the second quarter. Cubist Systematic Strategies LLC now owns 1,017,789 shares of the bank’s stock valued at $2,280,000 after buying an additional 409,484 shares during the period. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of Banco Bradesco in the second quarter valued at approximately $43,000.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $2.67 on Tuesday. The company has a market capitalization of $28.46 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.30 and a beta of 0.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. Banco Bradesco S.A. has a 12 month low of $2.16 and a 12 month high of $3.65. The stock’s 50 day moving average is $2.74 and its 200-day moving average is $2.58.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Monday, August 5th. The bank reported $0.09 EPS for the quarter, beating 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 firm had revenue of $9.64 billion for the quarter, compared to analyst estimates of $5.47 billion. Equities research analysts expect that Banco Bradesco S.A. will post 0.35 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 8th. Shareholders of record on Thursday, October 3rd will be paid a $0.0026 dividend. This represents a $0.03 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, October 3rd. Banco Bradesco’s dividend payout ratio (DPR) is 13.04%.

Wall Street Analyst Weigh In

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

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.