abrdn plc boosted its holdings in Banco Bradesco S.A. (NYSE:BBD) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 91,570,436 shares of the bank’s stock after purchasing an additional 8,046,329 shares during the quarter. Banco Bradesco comprises 1.0% of abrdn plc’s holdings, making the stock its 13th largest holding. abrdn plc owned 0.94% of Banco Bradesco worth $470,214,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Banco Bradesco in the 2nd quarter valued at about $42,000. HighPoint Advisor Group LLC bought a new stake in Banco Bradesco during the second quarter worth $53,000. Parallel Advisors LLC raised its position in Banco Bradesco by 88.7% in the 2nd quarter. Parallel Advisors LLC now owns 10,378 shares of the bank’s stock valued at $53,000 after buying an additional 4,879 shares during the last quarter. Axiom Investment Management LLC purchased a new stake in Banco Bradesco in the 1st quarter valued at $54,000. Finally, Captrust Financial Advisors lifted its stake in Banco Bradesco by 5,700.0% during the 1st quarter. Captrust Financial Advisors now owns 13,514 shares of the bank’s stock valued at $64,000 after acquiring an additional 13,281 shares in the last quarter. 2.37% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on BBD. Scotiabank downgraded shares of Banco Bradesco from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 7th. Zacks Investment Research lowered shares of Banco Bradesco from a “hold” rating to a “sell” rating in a research note on Friday, August 6th. Finally, Itau BBA Securities downgraded Banco Bradesco from an “outperform” rating to a “market perform” rating and set a $4.40 price target for the company. in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Banco Bradesco currently has an average rating of “Hold” and an average price target of $4.70.
Banco Bradesco (NYSE:BBD) last released its earnings results on Tuesday, August 3rd. The bank reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.66 billion. Banco Bradesco had a net margin of 20.84% and a return on equity of 17.20%. On average, equities research analysts forecast that Banco Bradesco S.A. will post 0.49 EPS for the current fiscal year.
The company also recently declared a — dividend, which will be paid on Tuesday, October 12th. Stockholders of record on Friday, September 3rd will be given a dividend of $0.0036 per share. The ex-dividend date is Thursday, September 2nd. This represents a dividend yield of 3.7%. Banco Bradesco’s dividend payout ratio is presently 8.11%.
Banco Bradesco Profile
Banco Bradesco SA engages in the provision of financial and insurance services. It operates through Banking, and Insurance segments. The Banking segment includes banking activities. The Insurance segment covers auto, health, life, accident and property insurance, and pension plans aw well as capitalization bonds.
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