MGO One Seven LLC Has $446,000 Position in Banco Bradesco SA $BBD

Key Points

• MGO One Seven LLC increased its holdings in Banco Bradesco SA by 388.1% in Q2 2023, now owning 144,360 shares valued at $446,000.
• Banco Bradesco declared a dividend of $0.0035 per share, with an annualized yield of 1.3%, set to be paid on December 8th.
• Weiss Ratings reaffirmed a "hold (c+)" rating on Banco Bradesco, with a consensus average price target of $2.40 from analysts.

MGO One Seven LLC grew its holdings in Banco Bradesco SA (NYSE:BBD - Free Report) by 388.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,360 shares of the bank's stock after purchasing an additional 114,784 shares during the quarter. MGO One Seven LLC's holdings in Banco Bradesco were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Aprio Wealth Management LLC bought a new stake in Banco Bradesco in the first quarter worth approximately $25,000. GAMMA Investing LLC increased its stake in shares of Banco Bradesco by 92.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,034 shares of the bank's stock valued at $25,000 after acquiring an additional 3,864 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Banco Bradesco during the 1st quarter valued at $26,000. BSW Wealth Partners bought a new position in Banco Bradesco during the first quarter worth $29,000. Finally, Sagespring Wealth Partners LLC bought a new position in Banco Bradesco during the first quarter worth $41,000.

Analyst Upgrades and Downgrades

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

Banco Bradesco Price Performance

Shares of BBD opened at $3.30 on Friday. The business's fifty day moving average is $3.14 and its 200 day moving average is $2.86. Banco Bradesco SA has a 12-month low of $1.84 and a 12-month high of $3.41. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. The stock has a market cap of $35.07 billion, a P/E ratio of 9.41, a P/E/G ratio of 0.40 and a beta of 0.75.

Banco Bradesco (NYSE:BBD - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $32.70 billion. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. Sell-side analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

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

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.

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