Nordea Investment Management AB raised its stake in shares of Banco Bradesco SA (NYSE:BBD) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 773,701 shares of the company’s stock after buying an additional 78,484 shares during the period. Nordea Investment Management AB’s holdings in Banco Bradesco SA were worth $6,043,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Candriam Luxembourg S.C.A. raised its position in Banco Bradesco SA by 10.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 14,300 shares of the company’s stock valued at $112,000 after buying an additional 1,300 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Banco Bradesco SA during the first quarter valued at approximately $122,000. Swarthmore Group Inc. acquired a new position in Banco Bradesco SA during the second quarter valued at approximately $188,000. Eqis Capital Management Inc. raised its position in Banco Bradesco SA by 12.7% in the second quarter. Eqis Capital Management Inc. now owns 37,913 shares of the company’s stock valued at $296,000 after buying an additional 4,269 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in Banco Bradesco SA during the first quarter valued at approximately $312,000. Hedge funds and other institutional investors own 2.65% of the company’s stock.
Shares of Banco Bradesco SA (NYSE:BBD) traded up 1.66% during mid-day trading on Monday, hitting $9.81. 10,666,849 shares of the company were exchanged. The stock’s 50-day moving average price is $9.07 and its 200 day moving average price is $8.03. Banco Bradesco SA has a 12-month low of $3.65 and a 12-month high of $9.85. The stock has a market cap of $54.27 billion, a PE ratio of 9.93 and a beta of 1.96.
Banco Bradesco SA (NYSE:BBD) last released its earnings results on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a return on equity of 18.51% and a net margin of 11.75%. On average, equities analysts anticipate that Banco Bradesco SA will post $0.87 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, October 5th will be paid a $0.162 dividend. This is a boost from Banco Bradesco SA’s previous dividend of $0.01. The ex-dividend date is Monday, October 3rd. Banco Bradesco SA’s payout ratio is presently 7.33%.
BBD has been the topic of a number of analyst reports. Credit Suisse Group AG upgraded shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 14th. JPMorgan Chase & Co. lowered shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $9.30 price objective on shares of Banco Bradesco SA in a research note on Wednesday, September 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.65.
About Banco Bradesco SA
Banco Bradesco SA (Bradesco) is a commercial bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two segments: the banking segment, and the insurance, pension plans and capitalization bond segment.