330,000 Shares in Banco Bradesco SA $BBD Acquired by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd acquired 330,000 shares of Banco Bradesco SA, valued at approximately $1,020,000, during the second quarter of this year.
• Banco Bradesco's latest earnings report revealed earnings per share of $0.10, matching expectations, and revenue of $5.87 billion, which fell short of analyst predictions.
• The bank has cut its monthly dividend to $0.0035, which corresponds to an annualized yield of 1.3% and a payout ratio of 8.57%.

S Bank Fund Management Ltd bought a new position in shares of Banco Bradesco SA (NYSE:BBD - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 330,000 shares of the bank's stock, valued at approximately $1,020,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBD. ARGA Investment Management LP grew its stake in Banco Bradesco by 53.0% in the 1st quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock worth $282,595,000 after buying an additional 43,884,334 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Banco Bradesco by 116.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock worth $73,885,000 after buying an additional 17,853,712 shares in the last quarter. Wellington Management Group LLP grew its stake in Banco Bradesco by 22.7% in the 1st quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank's stock worth $155,393,000 after buying an additional 12,873,188 shares in the last quarter. Moerus Capital Management LLC purchased a new position in Banco Bradesco in the 1st quarter worth approximately $27,372,000. Finally, Natixis Advisors LLC grew its stake in Banco Bradesco by 148.2% in the 1st quarter. Natixis Advisors LLC now owns 9,331,197 shares of the bank's stock worth $20,809,000 after buying an additional 5,572,096 shares in the last quarter.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock opened at $3.20 on Thursday. The stock has a market capitalization of $34.00 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.38 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average of $3.12 and a 200-day moving average of $2.84. Banco Bradesco SA has a 52-week low of $1.84 and a 52-week high of $3.41.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $32.70 billion. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. Equities research analysts expect that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 8th. Shareholders of record on Wednesday, November 5th will be issued a $0.0035 dividend. The ex-dividend date is Wednesday, November 5th. This represents a c) annualized dividend and a yield of 1.3%. Banco Bradesco's dividend payout ratio is 8.57%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Banco Bradesco in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Banco Bradesco presently has a consensus rating of "Hold" and a consensus price target of $2.40.

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.

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