Wetherby Asset Management Inc. Acquires 6,754 Shares of Banco Bradesco SA (BBD)
Wetherby Asset Management Inc. increased its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,862 shares of the bank’s stock after buying an additional 6,754 shares during the period. Wetherby Asset Management Inc.’s holdings in Banco Bradesco were worth $530,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Athena Capital Advisors LLC acquired a new position in Banco Bradesco during the third quarter valued at approximately $101,000. HRT Financial LLC acquired a new position in Banco Bradesco during the second quarter valued at approximately $132,000. Signaturefd LLC grew its holdings in Banco Bradesco by 50.7% during the second quarter. Signaturefd LLC now owns 20,573 shares of the bank’s stock valued at $141,000 after purchasing an additional 6,925 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Banco Bradesco by 181.0% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 23,000 shares of the bank’s stock valued at $163,000 after purchasing an additional 14,815 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new position in Banco Bradesco during the second quarter valued at approximately $183,000. 3.15% of the stock is owned by institutional investors and hedge funds.
BBD has been the subject of several research analyst reports. ValuEngine cut shares of Banco Bradesco from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Santander upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Zacks Investment Research upgraded shares of Banco Bradesco from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Morgan Stanley upgraded shares of Banco Bradesco from an “underweight” rating to an “equal weight” rating in a report on Friday, November 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Banco Bradesco currently has a consensus rating of “Buy” and an average target price of $11.00.
The business also recently declared a monthly dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Wednesday, December 5th will be issued a $0.004 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Tuesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 5.62%.
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Banco Bradesco Company Profile
Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.
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