Thrivent Financial for Lutherans Invests $2.20 Million in Banco Bradesco SA $BBD

Thrivent Financial for Lutherans purchased a new stake in shares of Banco Bradesco SA (NYSE:BBD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 662,595 shares of the bank’s stock, valued at approximately $2,202,000.

A number of other hedge funds have also recently added to or reduced their stakes in BBD. EverSource Wealth Advisors LLC raised its position in Banco Bradesco by 100.5% during the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after acquiring an additional 4,353 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Banco Bradesco during the 2nd quarter worth $42,000. Osaic Holdings Inc. raised its holdings in shares of Banco Bradesco by 34.7% during the 2nd quarter. Osaic Holdings Inc. now owns 16,915 shares of the bank’s stock valued at $52,000 after purchasing an additional 4,355 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Banco Bradesco during the 2nd quarter valued at $54,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Banco Bradesco in the 2nd quarter valued at $62,000.

Banco Bradesco Stock Performance

NYSE:BBD opened at $4.00 on Wednesday. The company’s 50 day moving average is $3.59 and its 200-day moving average is $3.36. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.45 and a quick ratio of 1.12. Banco Bradesco SA has a 12 month low of $1.93 and a 12 month high of $4.28.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Friday, February 6th. The bank reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. The business had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.68 billion. On average, equities research analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.0036 per share. This represents a c) dividend on an annualized basis and a yield of 1.1%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, March 4th. Banco Bradesco’s dividend payout ratio is currently 7.69%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2.00.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.