Banco Bradesco S.A. (NYSE:BBD) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lowered its holdings in Banco Bradesco S.A. (NYSE:BBD) by 29.0% during the third quarter, Holdings Channel reports. The fund owned 11,568 shares of the bank’s stock after selling 4,724 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Banco Bradesco were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BBD. Inspire Investing LLC purchased a new position in shares of Banco Bradesco in the 1st quarter valued at about $29,000. Blue Trust Inc. lifted its position in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares in the last quarter. Insigneo Advisory Services LLC acquired a new stake in Banco Bradesco in the 2nd quarter valued at $43,000. Mayport LLC purchased a new stake in Banco Bradesco in the 2nd quarter worth $47,000. Finally, SG Americas Securities LLC acquired a new position in Banco Bradesco during the second quarter worth $49,000.

Banco Bradesco Stock Performance

NYSE BBD opened at $2.42 on Thursday. The stock’s 50 day simple moving average is $2.68 and its 200-day simple moving average is $2.56. The company has a market cap of $25.74 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. Banco Bradesco S.A. has a 1-year low of $2.16 and a 1-year high of $3.65.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. As a group, equities research analysts anticipate that Banco Bradesco S.A. will post 0.35 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 0.99%. The ex-dividend date is Tuesday, November 5th. Banco Bradesco’s payout ratio is 11.54%.

Analysts Set New Price Targets

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