Barometer Capital Management Inc. Acquires 549,800 Shares of Banco Bradesco SA $BBD

Barometer Capital Management Inc. boosted its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 4,953.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 560,900 shares of the bank’s stock after acquiring an additional 549,800 shares during the quarter. Barometer Capital Management Inc.’s holdings in Banco Bradesco were worth $2,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBD. EverSource Wealth Advisors LLC increased its holdings in Banco Bradesco by 100.5% in the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after purchasing an additional 4,353 shares during the period. Brooklyn Investment Group lifted its holdings in Banco Bradesco by 1,276.5% during the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock worth $36,000 after buying an additional 9,842 shares during the period. Checchi Capital Advisers LLC acquired a new stake in shares of Banco Bradesco in the fourth quarter valued at about $39,000. Ballentine Partners LLC bought a new position in shares of Banco Bradesco during the fourth quarter worth about $41,000. Finally, GAMMA Investing LLC raised its position in shares of Banco Bradesco by 40.1% during the fourth quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock worth $42,000 after acquiring an additional 3,619 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Banco Bradesco Trading Up 1.5%

NYSE BBD opened at $3.65 on Wednesday. The stock has a market capitalization of $38.63 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.44 and a beta of 0.53. The business has a 50 day simple moving average of $3.48 and a 200 day simple moving average of $3.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. Banco Bradesco SA has a one year low of $2.73 and a one year high of $4.30.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. The company had revenue of $1.50 billion during the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. Research analysts expect that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be issued a $0.0037 dividend. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco’s dividend payout ratio (DPR) is presently 5.13%.

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.