Nykredit A S Purchases Shares of 1,032,539 Banco Bradesco SA $BBD

Nykredit A S acquired 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 & Exchange Commission. The institutional investor acquired 1,032,539 shares of the bank's stock, valued at approximately $3,583,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC increased its stake in shares of Banco Bradesco by 49.8% during the second quarter. Concurrent Investment Advisors LLC now owns 29,142 shares of the bank's stock worth $101,000 after buying an additional 9,690 shares during the period. B. Metzler seel. Sohn & Co. AG increased its position in shares of Banco Bradesco by 7.3% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 367,598 shares of the bank's stock valued at $1,276,000 after purchasing an additional 25,030 shares during the last quarter. Natural Investments LLC raised its holdings in shares of Banco Bradesco by 33.2% in the 2nd quarter. Natural Investments LLC now owns 23,570 shares of the bank's stock valued at $81,000 after purchasing an additional 5,880 shares in the last quarter. BTG Pactual Asset Management US LLC lifted its position in shares of Banco Bradesco by 6.0% during the 2nd quarter. BTG Pactual Asset Management US LLC now owns 524,086 shares of the bank's stock worth $1,819,000 after purchasing an additional 29,506 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Banco Bradesco by 251.2% during the 2nd quarter. Headlands Technologies LLC now owns 38,795 shares of the bank's stock worth $135,000 after purchasing an additional 27,748 shares during the last quarter.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $3.58 on Wednesday. The stock's 50-day moving average price is $3.42 and its 200 day moving average price is $3.56. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of $37.88 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.54 and a beta of 0.52. Banco Bradesco SA has a 52-week low of $2.98 and a 52-week high of $4.30.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. The firm had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. As a group, equities research analysts forecast that Banco Bradesco SA will post 0.5 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Monday, October 5th will be paid a dividend of $0.0037 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, October 5th. Banco Bradesco's payout ratio is 7.14%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.

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