Banco Bradesco S.A. (NYSE:BBD) Shares Acquired by HighVista Strategies LLC

HighVista Strategies LLC boosted its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 34.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 537,100 shares of the bank’s stock after purchasing an additional 137,100 shares during the quarter. HighVista Strategies LLC’s holdings in Banco Bradesco were worth $1,203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its position in Banco Bradesco by 77.2% in the 4th quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock valued at $242,441,000 after purchasing an additional 30,188,950 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Banco Bradesco by 14.1% in the fourth quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock valued at $211,783,000 after purchasing an additional 7,478,762 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Banco Bradesco by 17.5% during the second quarter. Itau Unibanco Holding S.A. now owns 23,989,150 shares of the bank’s stock valued at $51,963,000 after buying an additional 3,577,428 shares during the last quarter. Algebris UK Ltd bought a new stake in shares of Banco Bradesco during the first quarter valued at approximately $7,075,000. Finally, Oaktree Capital Management LP boosted its position in shares of Banco Bradesco by 8.2% during the fourth quarter. Oaktree Capital Management LP now owns 34,330,544 shares of the bank’s stock worth $120,157,000 after buying an additional 2,588,418 shares during the period.

Analysts Set New Price Targets

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

Banco Bradesco Stock Performance

Shares of BBD opened at $2.63 on Monday. The firm has a market capitalization of $28.03 billion, a PE ratio of 11.43, a P/E/G ratio of 0.31 and a beta of 0.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $2.61 and a 200 day moving average price of $2.60. Banco Bradesco S.A. has a 52-week low of $2.16 and a 52-week high of $3.65.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The company had revenue of $9.64 billion during the quarter, compared to analyst estimates of $5.47 billion. On average, sell-side analysts anticipate that Banco Bradesco S.A. will post 0.35 earnings per share for the current fiscal year.

Banco Bradesco Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio is presently 13.04%.

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.