Thrivent Financial for Lutherans Has $555,000 Stake in Banco Bradesco S.A. (NYSE:BBD)

Thrivent Financial for Lutherans boosted its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 13.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,769 shares of the bank’s stock after acquiring an additional 28,922 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Banco Bradesco were worth $555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Inspire Investing LLC bought a new stake in shares of Banco Bradesco in the 1st quarter worth about $29,000. Mayport LLC acquired a new stake in shares of Banco Bradesco during the second quarter worth approximately $47,000. SG Americas Securities LLC acquired a new stake in shares of Banco Bradesco during the second quarter worth approximately $49,000. Silvercrest Asset Management Group LLC raised its stake in shares of Banco Bradesco by 27.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after acquiring an additional 4,550 shares during the last quarter. Finally, Quattro Financial Advisors LLC acquired a new position in shares of Banco Bradesco in the 1st quarter worth approximately $63,000.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $2.73 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The firm has a market cap of $29.10 billion, a P/E ratio of 11.87, a P/E/G ratio of 0.29 and a beta of 0.97. Banco Bradesco S.A. has a 12 month low of $2.16 and a 12 month high of $3.65. The company’s 50-day moving average price is $2.70 and its two-hundred day moving average price is $2.59.

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, topping 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 net margin of 6.68% and a return on equity of 9.88%. As a group, research analysts forecast that Banco Bradesco S.A. will post 0.35 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 8th. Shareholders of record on Thursday, October 3rd will be given a $0.0026 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.03 dividend on an annualized basis and a yield of 1.14%. Banco Bradesco’s payout ratio is 13.04%.

Wall Street Analysts Forecast Growth

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

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.