QRG Capital Management Inc. Lowers Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

QRG Capital Management Inc. lowered its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 16.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,118 shares of the bank’s stock after selling 7,980 shares during the period. QRG Capital Management Inc.’s holdings in Banco Bradesco were worth $109,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banco Santander S.A. grew its position in shares of Banco Bradesco by 348.4% during the 1st quarter. Banco Santander S.A. now owns 1,692,954 shares of the bank’s stock valued at $4,842,000 after purchasing an additional 1,315,380 shares in the last quarter. Boston Partners purchased a new position in Banco Bradesco during the first quarter worth about $681,000. Sei Investments Co. increased its stake in Banco Bradesco by 1.9% in the 2nd quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock worth $48,788,000 after acquiring an additional 411,616 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Banco Bradesco by 6,437.5% in the 2nd quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after acquiring an additional 7,783,248 shares in the last quarter. Finally, Oaktree Fund Advisors LLC boosted its position in shares of Banco Bradesco by 1.0% during the 2nd quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock valued at $8,343,000 after acquiring an additional 35,111 shares during the last quarter.

Analysts Set New Price Targets

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

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $2.31 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a 52-week low of $2.16 and a 52-week high of $3.65. The firm has a fifty day moving average of $2.65 and a 200 day moving average of $2.55.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Sell-side analysts forecast that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a dividend yield of 1.72%. Banco Bradesco’s dividend payout ratio (DPR) is 11.54%.

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.