Banco Bradesco SA (BBD) Stake Decreased by Profund Advisors LLC
Profund Advisors LLC lowered its position in Banco Bradesco SA (NYSE:BBD) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 485,199 shares of the bank’s stock after selling 8,891 shares during the quarter. Profund Advisors LLC’s holdings in Banco Bradesco SA were worth $4,124,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BT Investment Management Ltd purchased a new stake in shares of Banco Bradesco SA in the second quarter valued at $22,396,000. BlackRock Inc. raised its stake in shares of Banco Bradesco SA by 3.1% in the second quarter. BlackRock Inc. now owns 40,489,056 shares of the bank’s stock valued at $344,157,000 after acquiring an additional 1,234,324 shares during the period. Nationwide Fund Advisors raised its stake in shares of Banco Bradesco SA by 29.5% in the second quarter. Nationwide Fund Advisors now owns 822,747 shares of the bank’s stock valued at $6,993,000 after acquiring an additional 187,295 shares during the period. Standard Life Investments LTD raised its stake in shares of Banco Bradesco SA by 10.4% in the second quarter. Standard Life Investments LTD now owns 563,616 shares of the bank’s stock valued at $4,788,000 after acquiring an additional 52,974 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Banco Bradesco SA by 17.9% in the second quarter. Ameriprise Financial Inc. now owns 75,591 shares of the bank’s stock valued at $643,000 after acquiring an additional 11,473 shares during the period. 2.65% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on BBD shares. Goldman Sachs Group, Inc. (The) raised shares of Banco Bradesco SA from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a research note on Monday, September 11th. ValuEngine downgraded shares of Banco Bradesco SA from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. BidaskClub raised shares of Banco Bradesco SA from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Scotiabank raised shares of Banco Bradesco SA from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.20.
Shares of Banco Bradesco SA (NYSE BBD) traded up 2.32% during midday trading on Friday, hitting $11.49. 9,150,092 shares of the stock traded hands. Banco Bradesco SA has a 12-month low of $7.15 and a 12-month high of $11.50. The company’s 50 day moving average price is $10.47 and its 200-day moving average price is $9.40. The stock has a market cap of $69.92 billion, a price-to-earnings ratio of 12.57 and a beta of 1.75.
The business also recently declared a special dividend, which will be paid on Monday, November 13th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.0061 per share. This represents a dividend yield of 0.64%. The ex-dividend date is Tuesday, October 3rd. This is a positive change from Banco Bradesco SA’s previous special dividend of $0.01. Banco Bradesco SA’s payout ratio is currently 7.86%.
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Banco Bradesco SA Profile
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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