Geode Capital Management LLC Has $2.99 Million Position in Banco Bradesco S.A. (NYSE:BBD)

Geode Capital Management LLC trimmed its holdings in Banco Bradesco S.A. (NYSE:BBD) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,125,049 shares of the bank’s stock after selling 7,550 shares during the period. Geode Capital Management LLC’s holdings in Banco Bradesco were worth $2,993,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after purchasing an additional 5,623 shares during the last quarter. Townsquare Capital LLC bought a new stake in Banco Bradesco during the third quarter valued at about $37,000. Insigneo Advisory Services LLC acquired a new position in shares of Banco Bradesco during the 2nd quarter worth about $43,000. Eagle Bay Advisors LLC grew its holdings in Banco Bradesco by 110.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock valued at $54,000 after buying an additional 10,500 shares during the last quarter. Finally, First Affirmative Financial Network bought a new position in Banco Bradesco in the 3rd quarter worth approximately $66,000.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

Banco Bradesco Stock Performance

NYSE:BBD opened at $1.95 on Wednesday. The firm has a market capitalization of $20.70 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a 12-month low of $1.84 and a 12-month high of $3.50. The firm has a 50-day moving average price of $2.15 and a 200 day moving average price of $2.42.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Research analysts anticipate that Banco Bradesco S.A. will post 0.33 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently announced a — dividend, which will be paid on Monday, August 11th. Stockholders of record on Friday, January 3rd will be paid a $0.0362 dividend. This represents a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, January 3rd. Banco Bradesco’s dividend payout ratio (DPR) is currently 11.54%.

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.