INCA Investments LLC Purchases 901,000 Shares of Banco Bradesco SA (NYSE:BBD)
INCA Investments LLC boosted its stake in Banco Bradesco SA (NYSE:BBD) by 61.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,368,000 shares of the bank’s stock after buying an additional 901,000 shares during the period. Banco Bradesco SA makes up approximately 4.7% of INCA Investments LLC’s portfolio, making the stock its 9th largest position. INCA Investments LLC’s holdings in Banco Bradesco SA were worth $20,128,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Alethea Capital Management LLC purchased a new position in Banco Bradesco SA during the first quarter valued at approximately $2,017,000. World Asset Management Inc raised its position in Banco Bradesco SA by 1.4% in the first quarter. World Asset Management Inc now owns 173,044 shares of the bank’s stock valued at $1,772,000 after buying an additional 2,459 shares in the last quarter. Comerica Bank raised its position in Banco Bradesco SA by 1.9% in the first quarter. Comerica Bank now owns 162,383 shares of the bank’s stock valued at $1,713,000 after buying an additional 2,994 shares in the last quarter. Dorsey Wright & Associates raised its position in Banco Bradesco SA by 43.9% in the first quarter. Dorsey Wright & Associates now owns 177,615 shares of the bank’s stock valued at $1,819,000 after buying an additional 54,177 shares in the last quarter. Finally, US Bancorp DE raised its position in Banco Bradesco SA by 4.4% in the first quarter. US Bancorp DE now owns 10,993 shares of the bank’s stock valued at $113,000 after buying an additional 468 shares in the last quarter. Institutional investors and hedge funds own 2.94% of the company’s stock.
Shares of Banco Bradesco SA (NYSE BBD) opened at 9.99 on Friday. Banco Bradesco SA has a 12-month low of $7.15 and a 12-month high of $10.37. The firm has a market cap of $60.79 billion, a P/E ratio of 10.79 and a beta of 1.78. The company has a 50-day moving average of $9.20 and a 200 day moving average of $9.19.
The business also recently disclosed a special dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 4th will be paid a dividend of $0.0058 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a yield of 7.47%. Banco Bradesco SA’s dividend payout ratio is currently 7.95%.
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Several research firms have recently commented on BBD. Zacks Investment Research upgraded shares of Banco Bradesco SA from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, April 18th. BidaskClub upgraded shares of Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. ValuEngine upgraded shares of Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, Scotiabank upgraded shares of Banco Bradesco SA from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, June 28th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $10.65.
Banco Bradesco SA Company Profile
Banco Bradesco SA is a commercial bank. The Bank 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. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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