Traveka Wealth LLC Acquires New Position in Banco Bradesco S.A. (NYSE:BBD)

Traveka Wealth LLC bought a new position in shares of Banco Bradesco S.A. (NYSE:BBD) during the fourth quarter, HoldingsChannel.com reports. The firm bought 16,423 shares of the bank’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of Banco Bradesco by 6.0% during the second quarter. American Century Companies Inc. now owns 3,641,607 shares of the bank’s stock worth $8,157,000 after purchasing an additional 207,649 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Banco Bradesco by 17.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 873,420 shares of the bank’s stock worth $1,966,000 after buying an additional 130,000 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Banco Bradesco by 19.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 150,362 shares of the bank’s stock worth $337,000 after buying an additional 24,763 shares during the last quarter. Inspire Advisors LLC grew its holdings in Banco Bradesco by 9.5% in the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock valued at $123,000 after buying an additional 4,737 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Banco Bradesco by 15.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,969,714 shares of the bank’s stock valued at $4,415,000 after acquiring an additional 262,005 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a research report on Monday.

Banco Bradesco Trading Up 0.3 %

Shares of BBD stock opened at $1.89 on Tuesday. 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 S.A. has a fifty-two week low of $1.84 and a fifty-two week high of $3.36. The firm’s 50 day moving average price is $2.11 and its two-hundred day moving average price is $2.41. The stock has a market cap of $20.06 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. On average, analysts anticipate that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 5th will be given a $0.0031 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, February 5th. Banco Bradesco’s payout ratio is 7.69%.

About Banco Bradesco

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.