HighVista Strategies LLC Has $1.56 Million Holdings in Banco Bradesco S.A. (NYSE:BBD)

HighVista Strategies LLC boosted its stake in Banco Bradesco S.A. (NYSE:BBD) by 9.0% in the third quarter, HoldingsChannel.com reports. The firm owned 585,400 shares of the bank’s stock after buying an additional 48,300 shares during the period. HighVista Strategies LLC’s holdings in Banco Bradesco were worth $1,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBD. Blue Trust Inc. grew its position in shares of Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares during the last quarter. Townsquare Capital LLC acquired a new stake in Banco Bradesco during the 3rd quarter valued at approximately $37,000. Insigneo Advisory Services LLC acquired a new stake in Banco Bradesco during the 2nd quarter valued at approximately $43,000. Mayport LLC bought a new position in Banco Bradesco during the 2nd quarter worth approximately $47,000. Finally, SG Americas Securities LLC bought a new position in Banco Bradesco during the 2nd quarter worth approximately $49,000.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BBD shares. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $2.08 on Tuesday. The stock has a market capitalization of $22.12 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.25 and a beta of 0.97. Banco Bradesco S.A. has a 52-week low of $2.02 and a 52-week high of $3.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s 50 day moving average price is $2.52 and its two-hundred day moving average price is $2.52.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. On average, equities analysts predict that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.0033 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.91%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. Banco Bradesco’s payout ratio is presently 11.54%.

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.