DekaBank Deutsche Girozentrale Sells 130,000 Shares of Banco Bradesco S.A. (NYSE:BBD)

DekaBank Deutsche Girozentrale decreased its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 14.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 743,420 shares of the bank’s stock after selling 130,000 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Banco Bradesco were worth $1,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC lifted its holdings in Banco Bradesco by 27.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after buying an additional 4,550 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of Banco Bradesco by 9.5% in the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock valued at $123,000 after purchasing an additional 4,737 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after purchasing an additional 5,623 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Banco Bradesco by 1.1% in the 2nd 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. Finally, Simplicity Wealth LLC raised its holdings in shares of Banco Bradesco by 11.9% in the 2nd quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock valued at $173,000 after purchasing an additional 8,165 shares in the last quarter.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $2.41 on Friday. The firm’s 50 day moving average price is $2.70 and its 200-day moving average price is $2.56. 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 52-week low of $2.16 and a 52-week high of $3.65.

Banco Bradesco (NYSE:BBD) last issued 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. As a group, sell-side analysts predict that Banco Bradesco S.A. will post 0.35 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 5th will be given a $0.002 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Tuesday, November 5th. Banco Bradesco’s payout ratio is currently 13.04%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2.50 to $3.20 in a 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.