Sanctuary Advisors LLC Takes $68,000 Position in Banco Bradesco S.A. (NYSE:BBD)

Sanctuary Advisors LLC acquired a new position in shares of Banco Bradesco S.A. (NYSE:BBD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,485 shares of the bank’s stock, valued at approximately $68,000.

Other large investors have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of Banco Bradesco by 26.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 209,030 shares of the bank’s stock valued at $732,000 after purchasing an additional 43,837 shares in the last quarter. Ballentine Partners LLC boosted its position in Banco Bradesco by 15.3% in the first quarter. Ballentine Partners LLC now owns 45,321 shares of the bank’s stock valued at $130,000 after buying an additional 6,020 shares in the last quarter. ARGA Investment Management LP grew its stake in shares of Banco Bradesco by 13.1% during the first quarter. ARGA Investment Management LP now owns 19,423,378 shares of the bank’s stock worth $55,551,000 after buying an additional 2,251,704 shares during the last quarter. Quattro Financial Advisors LLC acquired a new position in shares of Banco Bradesco during the first quarter worth $63,000. Finally, Legacy Wealth Asset Management LLC increased its holdings in shares of Banco Bradesco by 3.4% during the first quarter. Legacy Wealth Asset Management LLC now owns 163,471 shares of the bank’s stock worth $468,000 after buying an additional 5,383 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Down 0.2 %

Shares of NYSE BBD opened at $2.66 on Tuesday. The company has a 50 day simple moving average of $2.75 and a 200 day simple moving average of $2.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. Banco Bradesco S.A. has a 1 year low of $2.16 and a 1 year high of $3.65. The firm has a market cap of $28.30 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. On average, research analysts forecast that Banco Bradesco S.A. will post 0.35 EPS for the current year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 8th. Investors of record on Thursday, October 3rd will be given a dividend of $0.0026 per share. This represents a $0.03 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, October 3rd. Banco Bradesco’s dividend payout ratio is currently 13.04%.

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.