Banco Santander S.A. Sells 2,188,333 Shares of Banco Bradesco S.A. (NYSE:BBD)

Banco Santander S.A. decreased its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 85.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 358,833 shares of the bank’s stock after selling 2,188,333 shares during the quarter. Banco Santander S.A.’s holdings in Banco Bradesco were worth $954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBD. Blue Trust Inc. raised its stake in Banco Bradesco by 99.9% during the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after buying an additional 5,623 shares during the last quarter. Insigneo Advisory Services LLC bought a new position in shares of Banco Bradesco in the 2nd quarter worth about $43,000. Mayport LLC acquired a new position in shares of Banco Bradesco in the 2nd quarter valued at about $47,000. SG Americas Securities LLC bought a new stake in shares of Banco Bradesco during the 2nd quarter valued at about $49,000. Finally, Eagle Bay Advisors LLC grew its stake in Banco Bradesco by 110.5% during the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock worth $54,000 after purchasing an additional 10,500 shares during the period.

Banco Bradesco Stock Down 0.4 %

BBD opened at $2.38 on Friday. The company has a fifty day moving average price of $2.57 and a two-hundred day moving average price of $2.53. Banco Bradesco S.A. has a 1-year low of $2.16 and a 1-year high of $3.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Analysts expect that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio is presently 11.54%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2.50 to $3.20 in a research note on Monday, August 19th.

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.