Renaissance Technologies LLC Has $44.95 Million Holdings in Banco Bradesco SA $BBD

Key Points

• Renaissance Technologies more than doubled its Banco Bradesco stake in the first quarter, adding 6.28 million shares to reach 12.32 million shares worth approximately $44.95 million.
• Banco Bradesco reported quarterly EPS of $0.09 on revenue of $1.50 billion, with a 14.15% return on equity and a 9.24% net margin. Shares opened at $3.65, up 1.2%.
• The bank announced a monthly dividend of $0.0037 per share, representing a 1.2% annualized yield, while Weiss Ratings downgraded the stock from “buy” to “hold”; the overall analyst consensus remains “Moderate Buy.”

Renaissance Technologies LLC increased its position in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 103.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,315,995 shares of the bank's stock after purchasing an additional 6,276,800 shares during the period. Renaissance Technologies LLC owned about 0.12% of Banco Bradesco worth $44,953,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Banco Bradesco by 100.5% during the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank's stock worth $27,000 after buying an additional 4,353 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Banco Bradesco by 1,276.5% in the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank's stock valued at $36,000 after buying an additional 9,842 shares in the last quarter. Checchi Capital Advisers LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at $39,000. Ballentine Partners LLC bought a new position in shares of Banco Bradesco during the 4th quarter worth about $41,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Banco Bradesco by 40.1% during the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank's stock worth $42,000 after acquiring an additional 3,619 shares during the period.

Banco Bradesco Trading Up 1.2%

Shares of BBD opened at $3.65 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. The stock has a market cap of $38.63 billion, a PE ratio of 9.35, a PEG ratio of 0.45 and a beta of 0.53. Banco Bradesco SA has a 1 year low of $2.73 and a 1 year high of $4.30. The stock has a 50 day simple moving average of $3.49 and a 200-day simple moving average of $3.71.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%.The business had revenue of $1.50 billion for the quarter. On average, sell-side analysts predict that Banco Bradesco SA will post 0.5 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.0037 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. Banco Bradesco's dividend payout ratio (DPR) is presently 5.13%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Banco Bradesco presently has a consensus rating of "Moderate Buy".

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

Want to see what other hedge funds are holding BBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Bradesco SA (NYSE:BBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.