Banco Bradesco S.A. (NYSE:BBD) Stock Position Lifted by Sagil Capital LLP

Sagil Capital LLP raised its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 24.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,860,397 shares of the bank’s stock after purchasing an additional 1,720,000 shares during the quarter. Banco Bradesco accounts for about 10.2% of Sagil Capital LLP’s investment portfolio, making the stock its largest position. Sagil Capital LLP owned approximately 0.08% of Banco Bradesco worth $19,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Inspire Investing LLC bought a new position in shares of Banco Bradesco in the first quarter worth about $29,000. Aigen Investment Management LP purchased a new position in Banco Bradesco in the 4th quarter worth approximately $43,000. Vanguard Personalized Indexing Management LLC bought a new position in Banco Bradesco in the 4th quarter worth approximately $46,000. Mayport LLC bought a new stake in shares of Banco Bradesco during the second quarter valued at approximately $47,000. Finally, SG Americas Securities LLC bought a new position in shares of Banco Bradesco during the second quarter worth $49,000.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.50 to $3.20 in a research report on Monday, August 19th.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $2.80 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. Banco Bradesco S.A. has a 12-month low of $2.16 and a 12-month high of $3.65. The firm has a market capitalization of $29.84 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.31 and a beta of 0.98. The firm has a 50-day moving average price of $2.59 and a 200-day moving average price of $2.60.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Monday, August 5th. The bank reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $9.64 billion for the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. As a group, equities research analysts forecast that Banco Bradesco S.A. will post 0.35 EPS for the current year.

Banco Bradesco Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.0035 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 13.04%.

About Banco Bradesco

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.