Banco Bradesco S.A. (NYSE:BBD) Holdings Cut by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC cut its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 23.9% in the 3rd quarter, Holdings Channel reports. The firm owned 25,232 shares of the bank’s stock after selling 7,936 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Banco Bradesco were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Silvercrest Asset Management Group LLC boosted its position in Banco Bradesco by 27.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after purchasing an additional 4,550 shares during the period. Inspire Advisors LLC boosted its holdings in shares of Banco Bradesco by 9.5% during the second quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock valued at $123,000 after acquiring an additional 4,737 shares during the period. Blue Trust Inc. boosted its holdings in shares of Banco Bradesco by 99.9% during the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after acquiring an additional 5,623 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Banco Bradesco by 1.1% during the second quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock worth $1,605,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Simplicity Wealth LLC increased its holdings in shares of Banco Bradesco by 11.9% in the 2nd quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock worth $173,000 after acquiring an additional 8,165 shares during the period.

Banco Bradesco Price Performance

Shares of BBD stock opened at $2.32 on Thursday. The business has a 50 day simple moving average of $2.64 and a 200 day simple moving average of $2.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. Banco Bradesco S.A. has a 12-month low of $2.16 and a 12-month high of $3.65.

Banco Bradesco (NYSE:BBD) last released its quarterly 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 return on equity of 10.17% and a net margin of 7.43%. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Sell-side analysts anticipate that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. Banco Bradesco’s payout ratio is 11.54%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.50 to $3.20 in a research note on Monday, August 19th.

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.