QRG Capital Management Inc. Sells 6,545 Shares of Banco Bradesco S.A. (NYSE:BBD)

QRG Capital Management Inc. lessened its position in Banco Bradesco S.A. (NYSE:BBD) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,573 shares of the bank’s stock after selling 6,545 shares during the period. QRG Capital Management Inc.’s holdings in Banco Bradesco were worth $66,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in Banco Bradesco during the fourth quarter valued at approximately $30,000. Traveka Wealth LLC bought a new position in Banco Bradesco during the fourth quarter valued at approximately $31,000. Townsquare Capital LLC bought a new position in Banco Bradesco during the third quarter valued at approximately $37,000. Blue Trust Inc. lifted its position in Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock valued at $38,000 after purchasing an additional 8,801 shares during the period. Finally, Eagle Bay Advisors LLC lifted its position in Banco Bradesco by 37.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank’s stock valued at $54,000 after purchasing an additional 7,400 shares during the period.

Banco Bradesco Stock Up 0.2 %

BBD opened at $2.07 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. Banco Bradesco S.A. has a 1-year low of $1.84 and a 1-year high of $2.98. The company has a market capitalization of $21.98 billion, a PE ratio of 6.88, a PEG ratio of 0.32 and a beta of 0.94. The firm’s 50 day simple moving average is $2.02 and its two-hundred day simple moving average is $2.32.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, equities analysts forecast that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be paid a $0.0033 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.90%. Banco Bradesco’s dividend payout ratio is 6.67%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BBD. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and decreased their price target for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th.

About Banco Bradesco

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.