82,877 Shares in Banco Bradesco S.A. (NYSE:BBD) Purchased by Scientech Research LLC

Scientech Research LLC bought a new position in Banco Bradesco S.A. (NYSE:BBD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 82,877 shares of the bank’s stock, valued at approximately $186,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its position in Banco Bradesco by 77.2% during the fourth quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock valued at $242,441,000 after purchasing an additional 30,188,950 shares during the period. Wellington Management Group LLP raised its position in Banco Bradesco by 14.1% during the fourth quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock valued at $211,783,000 after purchasing an additional 7,478,762 shares during the period. Oaktree Capital Management LP raised its position in Banco Bradesco by 8.2% during the fourth quarter. Oaktree Capital Management LP now owns 34,330,544 shares of the bank’s stock valued at $120,157,000 after purchasing an additional 2,588,418 shares during the period. Russell Investments Group Ltd. raised its position in Banco Bradesco by 8.9% during the first quarter. Russell Investments Group Ltd. now owns 26,441,672 shares of the bank’s stock valued at $75,623,000 after purchasing an additional 2,166,229 shares during the period. Finally, Itau Unibanco Holding S.A. raised its position in Banco Bradesco by 17.5% during the second quarter. Itau Unibanco Holding S.A. now owns 23,989,150 shares of the bank’s stock valued at $51,963,000 after purchasing an additional 3,577,428 shares during the period.

Analyst Ratings Changes

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

Banco Bradesco Trading Up 1.5 %

Shares of NYSE BBD opened at $2.70 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50 day moving average price is $2.66 and its 200-day moving average price is $2.59. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The company has a market cap of $28.78 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.29 and a beta of 0.98.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $5.47 billion. On average, sell-side analysts expect that Banco Bradesco S.A. will post 0.35 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.0026 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a yield of 1.17%. Banco Bradesco’s dividend payout ratio (DPR) is currently 78.26%.

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.