Sei Investments Co. Increases Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Sei Investments Co. increased its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,968,881 shares of the bank’s stock after buying an additional 1,295,575 shares during the period. Sei Investments Co.’s holdings in Banco Bradesco were worth $73,391,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. lifted its stake in shares of Banco Bradesco by 8.6% in the fourth quarter. First Trust Direct Indexing L.P. now owns 45,245 shares of the bank’s stock worth $158,000 after acquiring an additional 3,570 shares in the last quarter. Gould Asset Management LLC CA raised its position in shares of Banco Bradesco by 7.3% in the 4th quarter. Gould Asset Management LLC CA now owns 53,509 shares of the bank’s stock valued at $187,000 after purchasing an additional 3,640 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Banco Bradesco by 7.1% during the 3rd quarter. Blair William & Co. IL now owns 57,903 shares of the bank’s stock valued at $165,000 after buying an additional 3,835 shares during the last quarter. SVB Wealth LLC boosted its stake in shares of Banco Bradesco by 11.3% during the 4th quarter. SVB Wealth LLC now owns 38,140 shares of the bank’s stock valued at $133,000 after buying an additional 3,868 shares during the last quarter. Finally, Ieq Capital LLC grew its position in shares of Banco Bradesco by 24.7% during the fourth quarter. Ieq Capital LLC now owns 20,714 shares of the bank’s stock worth $72,000 after buying an additional 4,103 shares in the last quarter.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price objective on the stock in a research note on Tuesday, February 20th.

Banco Bradesco Price Performance

NYSE:BBD traded down $0.05 during trading hours on Friday, reaching $2.45. 15,206,899 shares of the stock were exchanged, compared to its average volume of 15,061,328. The firm has a 50 day simple moving average of $2.65 and a 200-day simple moving average of $2.95. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. Banco Bradesco S.A. has a 52 week low of $2.40 and a 52 week high of $3.68.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Thursday, May 2nd. The bank reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $9.64 billion during the quarter. Banco Bradesco had a net margin of 6.70% and a return on equity of 9.55%. On average, research analysts predict 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 disclosed a monthly dividend, which will be paid on Tuesday, July 9th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.0037 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, June 5th. This represents a $0.04 annualized dividend and a yield of 1.80%. Banco Bradesco’s dividend payout ratio is 13.04%.

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.