R Squared Ltd Reduces Holdings in Banco Bradesco SA $BBD

R Squared Ltd decreased its holdings in Banco Bradesco SA (NYSE:BBD) by 50.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,990 shares of the bank’s stock after selling 48,840 shares during the quarter. R Squared Ltd’s holdings in Banco Bradesco were worth $148,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBD. Sequoia Financial Advisors LLC boosted its holdings in shares of Banco Bradesco by 263.5% in the first quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank’s stock worth $111,000 after buying an additional 36,177 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Banco Bradesco by 48.2% in the first quarter. PDS Planning Inc now owns 28,765 shares of the bank’s stock worth $64,000 after buying an additional 9,349 shares during the last quarter. BSW Wealth Partners purchased a new position in shares of Banco Bradesco in the first quarter worth approximately $29,000. Traveka Wealth LLC boosted its holdings in shares of Banco Bradesco by 29.9% in the first quarter. Traveka Wealth LLC now owns 21,333 shares of the bank’s stock worth $48,000 after buying an additional 4,910 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Banco Bradesco by 7.5% in the first quarter. Envestnet Asset Management Inc. now owns 791,930 shares of the bank’s stock worth $1,766,000 after buying an additional 55,304 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Banco Bradesco in a research report on Friday. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Banco Bradesco presently has a consensus rating of “Hold” and a consensus price target of $2.40.

Banco Bradesco Price Performance

BBD stock opened at $3.36 on Monday. Banco Bradesco SA has a one year low of $1.84 and a one year high of $3.41. The company’s fifty day moving average price is $3.17 and its 200-day moving average price is $2.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $35.70 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 0.41 and a beta of 0.75.

Banco Bradesco (NYSE:BBD) last released its earnings results on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. On average, equities analysts anticipate that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 8th. Stockholders of record on Wednesday, November 5th will be issued a $0.0035 dividend. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 5th. Banco Bradesco’s payout ratio is 8.57%.

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.