Signaturefd LLC Sells 11,805 Shares of Banco Bradesco S.A. (NYSE:BBD)

Signaturefd LLC trimmed its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 23.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,103 shares of the bank’s stock after selling 11,805 shares during the period. Signaturefd LLC’s holdings in Banco Bradesco were worth $101,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BBD. Doma Perpetual Capital Management LLC boosted its stake in Banco Bradesco by 403.4% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 11,203,738 shares of the bank’s stock valued at $25,096,000 after purchasing an additional 8,978,150 shares during the last quarter. Marshall Wace LLP boosted its stake in 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 purchasing an additional 7,783,248 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Banco Bradesco by 17.5% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 23,989,150 shares of the bank’s stock valued at $51,963,000 after purchasing an additional 3,577,428 shares during the last quarter. Algebris UK Ltd purchased a new stake in Banco Bradesco during the 1st quarter valued at $7,075,000. Finally, Millennium Management LLC boosted its stake in Banco Bradesco by 44.9% during the 2nd quarter. Millennium Management LLC now owns 7,629,716 shares of the bank’s stock valued at $17,091,000 after purchasing an additional 2,364,963 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Stock Performance

BBD stock opened at $2.65 on Tuesday. The company has a market cap of $28.19 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97. Banco Bradesco S.A. has a 1 year low of $2.16 and a 1 year high of $3.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s fifty day moving average price is $2.73 and its 200-day moving average price is $2.57.

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, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $9.64 billion for the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. On average, equities analysts forecast that Banco Bradesco S.A. will post 0.35 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 5th will be paid a $0.002 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.91%. Banco Bradesco’s dividend payout ratio (DPR) 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.