SPX Gestao de Recursos Ltda Buys 1,034,329 Shares of Banco Bradesco S.A. (NYSE:BBD)

SPX Gestao de Recursos Ltda boosted its holdings in Banco Bradesco S.A. (NYSE:BBD) by 995.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,138,185 shares of the bank’s stock after buying an additional 1,034,329 shares during the period. SPX Gestao de Recursos Ltda’s holdings in Banco Bradesco were worth $2,550,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BBD. Inspire Investing LLC bought a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $29,000. Insigneo Advisory Services LLC purchased a new position in shares of Banco Bradesco in the 2nd quarter valued at $43,000. Mayport LLC purchased a new position in Banco Bradesco in the second quarter valued at about $47,000. SG Americas Securities LLC bought a new position in shares of Banco Bradesco during the 2nd quarter worth approximately $49,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Banco Bradesco by 27.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock worth $60,000 after purchasing an additional 4,550 shares in the last quarter.

Analysts Set New Price Targets

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

Banco Bradesco Stock Down 1.7 %

NYSE BBD opened at $2.67 on Tuesday. The business’s fifty day simple moving average is $2.65 and its 200-day simple moving average is $2.59. The firm has a market cap of $28.40 billion, a PE ratio of 11.59, a P/E/G ratio of 0.29 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. 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 announced its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $9.64 billion for the quarter, compared to analyst estimates of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. As a group, equities analysts anticipate that Banco Bradesco S.A. will post 0.35 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.0026 per share. This represents a dividend yield of 1.17%. The ex-dividend date is Thursday, October 3rd. Banco Bradesco’s dividend payout ratio (DPR) is presently 78.26%.

Banco Bradesco Company Profile

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.