MGO One Seven LLC Grows Position in Banco Bradesco SA $BBD

MGO One Seven LLC raised its stake in shares of Banco Bradesco SA (NYSE:BBD) by 388.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 144,360 shares of the bank’s stock after acquiring an additional 114,784 shares during the period. MGO One Seven LLC’s holdings in Banco Bradesco were worth $446,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sagespring Wealth Partners LLC purchased a new stake in shares of Banco Bradesco in the first quarter valued at about $41,000. Blue Trust Inc. grew its position in Banco Bradesco by 48.5% in the 1st quarter. Blue Trust Inc. now owns 54,486 shares of the bank’s stock worth $122,000 after purchasing an additional 17,787 shares in the last quarter. Bessemer Group Inc. increased its stake in Banco Bradesco by 14.3% in the 1st quarter. Bessemer Group Inc. now owns 5,052,355 shares of the bank’s stock valued at $11,266,000 after buying an additional 632,647 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Banco Bradesco by 263.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank’s stock worth $111,000 after buying an additional 36,177 shares in the last quarter. Finally, PDS Planning Inc boosted its stake in shares of Banco Bradesco by 48.2% in the 1st quarter. PDS Planning Inc now owns 28,765 shares of the bank’s stock worth $64,000 after buying an additional 9,349 shares during the last quarter.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $3.30 on Friday. The firm has a market cap of $35.07 billion, a price-to-earnings ratio of 9.41, a P/E/G ratio of 0.40 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.41. The firm’s 50-day simple moving average is $3.14 and its two-hundred day simple moving average is $2.86.

Banco Bradesco (NYSE:BBD) last released its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $32.70 billion. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. As a group, equities analysts forecast that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 8th. Shareholders of record on Wednesday, November 5th will be paid a $0.0035 dividend. The ex-dividend date is Wednesday, November 5th. This represents a c) annualized dividend and a dividend yield of 1.3%. Banco Bradesco’s payout ratio is presently 8.57%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.40.

Banco Bradesco 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.