TD Asset Management Inc. Sells 9,114 Shares of Banco Bradesco SA (BBD)
TD Asset Management Inc. lowered its stake in Banco Bradesco SA (NYSE:BBD) by 24.2% during the second quarter, Holdings Channel reports. The fund owned 28,614 shares of the company’s stock after selling 9,114 shares during the period. TD Asset Management Inc.’s holdings in Banco Bradesco SA were worth $223,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in BBD. Emerald Acquisition Ltd. purchased a new stake in Banco Bradesco SA during the second quarter valued at about $33,178,000. Aberdeen Asset Management PLC UK raised its stake in Banco Bradesco SA by 2.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 175,029,960 shares of the company’s stock valued at $1,366,984,000 after buying an additional 3,635,973 shares during the period. BlackRock Group LTD raised its stake in Banco Bradesco SA by 16.4% in the first quarter. BlackRock Group LTD now owns 14,017,747 shares of the company’s stock valued at $104,432,000 after buying an additional 1,970,818 shares during the period. Sprucegrove Investment Management Ltd. raised its stake in Banco Bradesco SA by 10.4% in the second quarter. Sprucegrove Investment Management Ltd. now owns 20,046,674 shares of the company’s stock valued at $156,565,000 after buying an additional 1,896,514 shares during the period. Finally, Lazard Asset Management LLC raised its stake in Banco Bradesco SA by 35.7% in the first quarter. Lazard Asset Management LLC now owns 5,797,125 shares of the company’s stock valued at $43,188,000 after buying an additional 1,524,676 shares during the period. Institutional investors and hedge funds own 4.36% of the company’s stock.
Banco Bradesco SA (NYSE:BBD) traded up 1.76% during trading on Tuesday, reaching $8.68. 10,693,924 shares of the company were exchanged. Banco Bradesco SA has a one year low of $3.65 and a one year high of $9.46. The firm’s 50 day moving average price is $8.90 and its 200-day moving average price is $7.68. The stock has a market capitalization of $48.02 billion, a price-to-earnings ratio of 9.02 and a beta of 1.99.
Banco Bradesco SA (NYSE:BBD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. On average, equities research analysts predict that Banco Bradesco SA will post ($0.15) earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 11th. Investors of record on Wednesday, September 7th will be given a $0.005 dividend. The ex-dividend date is Friday, September 2nd. This represents a $0.06 annualized dividend and a yield of 0.69%. This is an increase from Banco Bradesco SA’s previous monthly dividend of $0.00. Banco Bradesco SA’s dividend payout ratio (DPR) is presently 7.33%.
Several analysts have issued reports on BBD shares. Credit Suisse Group AG raised shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 14th. JPMorgan Chase & Co. lowered shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $4.91.
About Banco Bradesco SA
Banco Bradesco SA is a multiple service 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 operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.
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