Victory Capital Management Inc. cut its position in Banco Bradesco SA (NYSE:BBD) by 38.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,378,653 shares of the bank’s stock after selling 873,033 shares during the quarter. Victory Capital Management Inc.’s holdings in Banco Bradesco were worth $15,041,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in BBD. Parallel Advisors LLC increased its holdings in shares of Banco Bradesco by 293.1% during the first quarter. Parallel Advisors LLC now owns 3,286 shares of the bank’s stock valued at $36,000 after acquiring an additional 2,450 shares in the last quarter. Lindbrook Capital LLC acquired a new position in shares of Banco Bradesco during the fourth quarter valued at about $44,000. Advisor Group Inc. increased its holdings in shares of Banco Bradesco by 125.8% during the fourth quarter. Advisor Group Inc. now owns 8,350 shares of the bank’s stock valued at $83,000 after acquiring an additional 4,652 shares in the last quarter. OLD Mission Capital LLC acquired a new position in shares of Banco Bradesco during the fourth quarter valued at about $100,000. Finally, Summit Securities Group LLC acquired a new position in shares of Banco Bradesco during the fourth quarter valued at about $101,000. Institutional investors and hedge funds own 2.41% of the company’s stock.
Banco Bradesco stock traded up $0.23 during mid-day trading on Monday, hitting $8.24. The company had a trading volume of 330,040 shares, compared to its average volume of 10,201,443. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79. Banco Bradesco SA has a 12-month low of $5.41 and a 12-month high of $10.46. The firm has a market cap of $64.34 billion, a PE ratio of 11.54, a P/E/G ratio of 0.46 and a beta of 1.02.
The business also recently disclosed a monthly dividend, which was paid on Thursday, May 9th. Shareholders of record on Monday, April 8th were given a $0.004 dividend. The ex-dividend date was Friday, April 5th. This represents a $0.05 annualized dividend and a yield of 0.58%. Banco Bradesco’s dividend payout ratio is presently 7.04%.
Several research firms have recently issued reports on BBD. ValuEngine upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Scotiabank lowered Banco Bradesco from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, February 26th. Finally, Zacks Investment Research upgraded Banco Bradesco from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $10.00.
Banco Bradesco Profile
Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.
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