Sagil Capital LLP Reduces Stake in Banco Bradesco S.A. (NYSE:BBD)

Sagil Capital LLP lessened its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 19.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,179,411 shares of the bank’s stock after selling 1,680,986 shares during the quarter. Banco Bradesco comprises about 11.7% of Sagil Capital LLP’s investment portfolio, making the stock its biggest position. Sagil Capital LLP’s holdings in Banco Bradesco were worth $19,097,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BBD. Boston Partners bought a new position in shares of Banco Bradesco during the first quarter worth approximately $681,000. Sei Investments Co. raised its holdings in Banco Bradesco by 1.9% in the 2nd quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock valued at $48,788,000 after acquiring an additional 411,616 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Banco Bradesco by 6,437.5% during the 2nd quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after acquiring an additional 7,783,248 shares during the period. Oaktree Fund Advisors LLC grew its holdings in shares of Banco Bradesco by 1.0% during the 2nd quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock worth $8,343,000 after purchasing an additional 35,111 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Banco Bradesco by 67.3% in the second quarter. Atomi Financial Group Inc. now owns 89,818 shares of the bank’s stock worth $201,000 after purchasing an additional 36,125 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BBD shares. The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2.50 to $3.20 in a research note on Monday, August 19th. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday.

Banco Bradesco Stock Performance

Shares of BBD remained flat at $2.38 during midday trading on Monday. The stock had a trading volume of 689,211 shares, compared to its average volume of 21,959,713. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco S.A. has a one year low of $2.16 and a one year high of $3.65. The company’s 50 day moving average price is $2.57 and its two-hundred day moving average price is $2.53.

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

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.0033 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 11.54%.

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.