Banco Bradesco SA (BBD) Trading Up 1.8%
Shares of Banco Bradesco SA (NYSE:BBD) were up 1.8% during trading on Tuesday . The company traded as high as $8.79 and last traded at $8.68, with a volume of 5,618,440 shares trading hands. The stock had previously closed at $8.53.
BBD has been the subject of a number of research reports. Credit Suisse Group AG upgraded Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a report on Thursday, July 14th. JPMorgan Chase & Co. cut Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.91.
The firm has a market capitalization of $48.02 billion, a P/E ratio of 9.02 and a beta of 1.99. The company has a 50-day moving average price of $8.90 and a 200-day moving average price of $7.68.
Banco Bradesco SA (NYSE:BBD) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. Analysts anticipate that Banco Bradesco SA will post ($0.15) earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Wednesday, September 7th will be issued a dividend of $0.005 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, September 2nd. This is a positive change from Banco Bradesco SA’s previous monthly dividend of $0.00. Banco Bradesco SA’s payout ratio is 7.33%.
Several institutional investors have recently modified their holdings of BBD. Macquarie Group Ltd. raised its position in shares of Banco Bradesco SA by 38.5% in the second quarter. Macquarie Group Ltd. now owns 3,114,259 shares of the company’s stock worth $24,325,000 after buying an additional 865,742 shares during the period. Northwestern Mutual Investment Management Company LLC purchased a new position in Banco Bradesco SA during the second quarter valued at about $3,969,000. Legal & General Group Plc raised its position in Banco Bradesco SA by 46.6% in the second quarter. Legal & General Group Plc now owns 2,166,358 shares of the company’s stock valued at $16,908,000 after buying an additional 688,608 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Banco Bradesco SA during the second quarter valued at about $39,516,000. Finally, Capital International Investors raised its position in Banco Bradesco SA by 10.0% in the second quarter. Capital International Investors now owns 12,108,052 shares of the company’s stock valued at $94,564,000 after buying an additional 1,100,732 shares during the last quarter. Institutional investors own 4.36% of the company’s stock.
Banco Bradesco SA Company Profile
Banco Bradesco SA is a multiple service bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid‑sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.
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