Truffle Hound Capital LLC Has $4.64 Million Stock Position in Banco Bradesco SA $BBD

Truffle Hound Capital LLC boosted its stake in shares of Banco Bradesco SA (NYSE:BBD) by 100.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,500,000 shares of the bank’s stock after acquiring an additional 750,000 shares during the quarter. Banco Bradesco makes up approximately 1.2% of Truffle Hound Capital LLC’s holdings, making the stock its 17th biggest holding. Truffle Hound Capital LLC’s holdings in Banco Bradesco were worth $4,635,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Aprio Wealth Management LLC acquired a new position in shares of Banco Bradesco during the first quarter worth approximately $25,000. GAMMA Investing LLC raised its position in Banco Bradesco by 92.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock worth $25,000 after purchasing an additional 3,864 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in Banco Bradesco during the 1st quarter worth $26,000. Sigma Planning Corp bought a new position in Banco Bradesco in the 1st quarter valued at $43,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Banco Bradesco in the 2nd quarter valued at $45,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.40.

Banco Bradesco Trading Down 1.5%

NYSE:BBD opened at $3.63 on Tuesday. The firm has a market capitalization of $38.58 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.43 and a beta of 0.76. Banco Bradesco SA has a 1-year low of $1.84 and a 1-year high of $3.77. The business’s 50-day moving average price is $3.34 and its two-hundred day moving average price is $3.05. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Wednesday, October 29th. The bank reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Banco Bradesco had a return on equity of 13.16% and a net margin of 9.61%.The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $34.75 billion. On average, equities analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.0035 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 3rd. This represents a c) dividend on an annualized basis and a yield of 1.2%. Banco Bradesco’s dividend payout ratio is currently 5.71%.

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.