Sequoia Financial Advisors LLC Trims Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Sequoia Financial Advisors LLC trimmed its stake in Banco Bradesco S.A. (NYSE:BBD) by 33.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,046 shares of the bank’s stock after selling 8,050 shares during the period. Sequoia Financial Advisors LLC’s holdings in Banco Bradesco were worth $43,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBD. Silvercrest Asset Management Group LLC grew its holdings 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 during the last quarter. Inspire Advisors LLC grew its stake in Banco Bradesco by 9.5% during the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after buying an additional 4,737 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in 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 during the period. Blue Trust Inc. lifted its stake in Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Banco Bradesco by 1.1% in the second quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock valued at $1,605,000 after acquiring an additional 8,000 shares during the period.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Price Performance

Shares of BBD opened at $2.59 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The firm has a 50-day simple moving average of $2.72 and a 200-day simple moving average of $2.56. The company has a market capitalization of $27.55 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data 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. The company had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. On average, equities research analysts anticipate that Banco Bradesco S.A. will post 0.35 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 5th will be given a $0.002 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.02 dividend on an annualized basis and a yield of 0.93%. Banco Bradesco’s dividend payout ratio (DPR) is 13.04%.

Banco Bradesco 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.