Banco Bradesco S.A. (NYSE:BBD) Shares Sold by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC lessened its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 54.2% during the 3rd quarter, Holdings Channel reports. The firm owned 583,957 shares of the bank’s stock after selling 690,380 shares during the period. Euro Pacific Asset Management LLC’s holdings in Banco Bradesco were worth $1,556,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Silvercrest Asset Management Group LLC boosted its position in Banco Bradesco by 27.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after buying an additional 4,550 shares during the period. Inspire Advisors LLC boosted its holdings in Banco Bradesco by 9.5% in the second quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock valued at $123,000 after purchasing an additional 4,737 shares during the period. Blue Trust Inc. grew its stake in Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after purchasing an additional 5,623 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Banco Bradesco by 1.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock worth $1,605,000 after purchasing an additional 8,000 shares during the period. Finally, Simplicity Wealth LLC raised its position in Banco Bradesco by 11.9% in the 2nd quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock valued at $173,000 after purchasing an additional 8,165 shares in the last quarter.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $3.20 in a research report on Monday, August 19th.

Banco Bradesco Stock Up 1.3 %

Banco Bradesco stock opened at $2.38 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco S.A. has a 1-year low of $2.16 and a 1-year high of $3.65. The stock’s fifty day moving average is $2.61 and its two-hundred day moving average is $2.54.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. On average, equities research analysts anticipate that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.0033 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is 11.54%.

About Banco Bradesco

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.