Banco Bradesco SA $BBD Shares Purchased by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda grew its stake in Banco Bradesco SA (NYSE:BBD) by 49.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,842,473 shares of the bank’s stock after buying an additional 1,939,528 shares during the period. Banco Bradesco accounts for 1.6% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 17th largest holding. SPX Gestao de Recursos Ltda’s holdings in Banco Bradesco were worth $19,748,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Banco Bradesco by 100.5% in the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after acquiring an additional 4,353 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Banco Bradesco during the second quarter worth about $42,000. Osaic Holdings Inc. lifted its holdings in shares of Banco Bradesco by 34.7% in the 2nd quarter. Osaic Holdings Inc. now owns 16,915 shares of the bank’s stock valued at $52,000 after purchasing an additional 4,355 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Banco Bradesco in the 2nd quarter valued at about $54,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Banco Bradesco in the 2nd quarter valued at about $62,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BBD shares. Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

Banco Bradesco Stock Down 1.6%

Banco Bradesco stock opened at $3.68 on Friday. The stock has a 50 day moving average of $3.82 and a two-hundred day moving average of $3.50. Banco Bradesco SA has a twelve month low of $1.95 and a twelve month high of $4.28. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 2.68.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Friday, February 6th. The bank reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%.The business had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $6.68 billion. As a group, research analysts expect that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 4th will be paid a $0.0036 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a c) annualized dividend and a yield of 1.2%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 7.69%.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.