Banco Santander S.A. Sells 829,181 Shares of Banco Bradesco SA (NYSE:BBD)

Key Points

• Banco Santander S.A. reduced its stake in Banco Bradesco SA by 46.0% during the 1st quarter, holding 973,638 shares valued at $2,171,000 after the sale.
• Banco Bradesco declared a dividend of $0.0023, marking a significant increase from its previous dividend of $0.00, with a yield of 99.0%.
• Analysts are optimistic, with Citigroup and Bank of America upgrading Banco Bradesco’s stock from "hold" to "buy", while the average rating remains "Hold" with a target price of $2.40.

Banco Santander S.A. lowered its stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 46.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 973,638 shares of the bank's stock after selling 829,181 shares during the quarter. Banco Santander S.A.'s holdings in Banco Bradesco were worth $2,171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Simplicity Wealth LLC acquired a new stake in Banco Bradesco during the first quarter worth $26,000. BSW Wealth Partners acquired a new stake in shares of Banco Bradesco in the 1st quarter valued at $29,000. Merit Financial Group LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter valued at $37,000. Peapack Gladstone Financial Corp boosted its stake in shares of Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock valued at $32,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter valued at $41,000.

Banco Bradesco Trading Up 0.2%

NYSE:BBD traded up $0.01 on Tuesday, hitting $2.82. 37,120,750 shares of the stock were exchanged, compared to its average volume of 33,884,004. The stock has a market capitalization of $29.96 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 0.39 and a beta of 0.68. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 1.11. The company's 50-day moving average price is $2.94 and its 200 day moving average price is $2.48.

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

Banco Bradesco Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, September 11th. Stockholders of record on Wednesday, August 6th will be paid a $0.0023 dividend. This is a boost from Banco Bradesco's previous dividend of $0.00. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a dividend yield of 99.0%. Banco Bradesco's dividend payout ratio (DPR) is currently 8.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BBD. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $2.40.

Banco Bradesco Company 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.