Profund Advisors LLC Purchases 8,967 Shares of Banco Bradesco S.A. (NYSE:BBD)

Profund Advisors LLC raised its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 4.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 227,979 shares of the bank’s stock after acquiring an additional 8,967 shares during the period. Profund Advisors LLC’s holdings in Banco Bradesco were worth $511,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC grew its holdings in shares of Banco Bradesco by 77.2% during the fourth quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock worth $242,441,000 after purchasing an additional 30,188,950 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Banco Bradesco by 14.1% in the 4th quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock worth $211,783,000 after buying an additional 7,478,762 shares during the last quarter. Oaktree Capital Management LP increased its holdings in shares of Banco Bradesco by 8.2% in the 4th quarter. Oaktree Capital Management LP now owns 34,330,544 shares of the bank’s stock worth $120,157,000 after buying an additional 2,588,418 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Banco Bradesco by 8.9% during the 1st quarter. Russell Investments Group Ltd. now owns 26,441,672 shares of the bank’s stock valued at $75,623,000 after buying an additional 2,166,229 shares in the last quarter. Finally, Sei Investments Co. grew its position in Banco Bradesco by 1.9% in the second 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 in the last quarter.

Banco Bradesco Stock Up 0.4 %

BBD stock opened at $2.59 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. Banco Bradesco S.A. has a one year low of $2.16 and a one year high of $3.65. The company’s 50 day moving average price is $2.62 and its two-hundred day moving average price is $2.60.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Monday, August 5th. The bank reported $0.09 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 company had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Equities research analysts forecast that Banco Bradesco S.A. will post 0.35 earnings per share for the current year.

Banco Bradesco Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a yield of 1.60%. The ex-dividend date is Wednesday, October 2nd. Banco Bradesco’s dividend payout ratio is presently 13.04%.

Analysts Set New Price Targets

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