Quantbot Technologies LP Has $2.77 Million Holdings in Banco Bradesco S.A. (NYSE:BBD)

Quantbot Technologies LP cut its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 13.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,041,723 shares of the bank’s stock after selling 162,691 shares during the period. Quantbot Technologies LP’s holdings in Banco Bradesco were worth $2,771,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BBD shares. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday. The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and raised their price target for the company from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Stock Down 4.6 %

Shares of NYSE BBD opened at $2.26 on Thursday. The company’s 50 day simple moving average is $2.54 and its 200 day simple moving average is $2.52. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. On average, research analysts anticipate that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.75%. This is a boost 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%.

Banco Bradesco 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.