Deltec Asset Management LLC Has $450,000 Position in Banco Bradesco SA (BBD)
Deltec Asset Management LLC reduced its position in shares of Banco Bradesco SA (NYSE:BBD) by 31.7% during the second quarter, Holdings Channel reports. The fund owned 57,640 shares of the company’s stock after selling 26,703 shares during the period. Deltec Asset Management LLC’s holdings in Banco Bradesco SA were worth $450,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Strs Ohio increased its stake in Banco Bradesco SA by 10.0% in the second quarter. Strs Ohio now owns 369,600 shares of the company’s stock worth $2,886,000 after buying an additional 33,600 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Banco Bradesco SA during the second quarter valued at approximately $4,737,000. Sprucegrove Investment Management Ltd. increased its position in shares of Banco Bradesco SA by 10.4% in the second quarter. Sprucegrove Investment Management Ltd. now owns 20,046,674 shares of the company’s stock valued at $156,565,000 after buying an additional 1,896,514 shares in the last quarter. CIBC World Markets Inc. increased its position in shares of Banco Bradesco SA by 7.7% in the second quarter. CIBC World Markets Inc. now owns 50,448 shares of the company’s stock valued at $394,000 after buying an additional 3,592 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Banco Bradesco SA by 10.0% in the second quarter. Nikko Asset Management Americas Inc. now owns 78,342 shares of the company’s stock valued at $601,000 after buying an additional 7,122 shares in the last quarter. Institutional investors own 4.36% of the company’s stock.
Banco Bradesco SA (NYSE:BBD) traded up 3.69% during mid-day trading on Wednesday, hitting $9.00. 13,459,804 shares of the company’s stock were exchanged. Banco Bradesco SA has a 12 month low of $3.65 and a 12 month high of $9.46. The stock has a market cap of $49.79 billion, a PE ratio of 9.36 and a beta of 1.99. The stock’s 50 day moving average price is $8.91 and its 200-day moving average price is $7.71.
Banco Bradesco SA (NYSE:BBD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. Equities analysts expect that Banco Bradesco SA will post ($0.15) EPS for the current fiscal year.
The business also recently disclosed a dividend, which will be paid on Tuesday, November 8th. Stockholders of record on Thursday, October 6th will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Tuesday, October 4th. This is a boost from Banco Bradesco SA’s previous dividend of $0.00. Banco Bradesco SA’s dividend payout ratio (DPR) is 7.33%.
Several brokerages have commented on BBD. Goldman Sachs Group Inc. restated a “neutral” rating on shares of Banco Bradesco SA in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Finally, Credit Suisse Group AG upgraded shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Banco Bradesco SA presently has a consensus rating of “Hold” and a consensus price target of $4.91.
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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