Qtron Investments LLC Lowers Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

Qtron Investments LLC trimmed its holdings in shares of Banco Bradesco S.A. (NYSE:BBDFree Report) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,724 shares of the bank’s stock after selling 36,896 shares during the quarter. Qtron Investments LLC’s holdings in Banco Bradesco were worth $615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC purchased a new position in Banco Bradesco during the fourth quarter valued at $106,000. Catalytic Wealth RIA LLC purchased a new stake in Banco Bradesco during the 4th quarter worth approximately $123,000. IPG Investment Advisors LLC acquired a new position in shares of Banco Bradesco during the fourth quarter valued at approximately $95,000. Aigen Investment Management LP purchased a new position in shares of Banco Bradesco in the fourth quarter valued at approximately $43,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Banco Bradesco by 26.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 209,030 shares of the bank’s stock valued at $732,000 after acquiring an additional 43,837 shares in the last quarter.

Banco Bradesco Stock Down 1.6 %

BBD opened at $2.46 on Friday. The company’s 50 day simple moving average is $2.69 and its two-hundred day simple moving average is $2.98. Banco Bradesco S.A. has a 1-year low of $2.43 and a 1-year high of $3.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77.

Banco Bradesco (NYSE:BBDGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The bank reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $9.64 billion during the quarter. Banco Bradesco had a return on equity of 9.55% and a net margin of 6.70%. Research analysts anticipate that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.0037 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is currently 17.39%.

Analysts Set New Price Targets

Several brokerages recently commented on BBD. Jefferies Financial Group cut Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price for the company in a report on Tuesday, February 20th.

Get Our Latest Stock Report on Banco Bradesco

Banco Bradesco Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

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