ClariVest Asset Management LLC increased its position in shares of Banco Bradesco SA (NYSE:BBD) by 20.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,095,770 shares of the company’s stock after buying an additional 184,251 shares during the period. ClariVest Asset Management LLC’s holdings in Banco Bradesco SA were worth $8,557,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Candriam Luxembourg S.C.A. increased its position in shares of Banco Bradesco SA by 10.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 14,300 shares of the company’s stock worth $112,000 after buying an additional 1,300 shares during the period. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Banco Bradesco SA during the first quarter worth $122,000. Swarthmore Group Inc. bought a new position in shares of Banco Bradesco SA during the second quarter worth $188,000. Eqis Capital Management Inc. increased its position in shares of Banco Bradesco SA by 12.7% in the second quarter. Eqis Capital Management Inc. now owns 37,913 shares of the company’s stock worth $296,000 after buying an additional 4,269 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Banco Bradesco SA during the first quarter worth $312,000. Institutional investors own 4.36% of the company’s stock.
Shares of Banco Bradesco SA (NYSE:BBD) remained flat at $9.42 during mid-day trading on Thursday. The company’s stock had a trading volume of 12,060,943 shares. Banco Bradesco SA has a 12 month low of $3.65 and a 12 month high of $9.47. The stock has a 50-day moving average price of $8.94 and a 200-day moving average price of $7.90. The company has a market cap of $52.11 billion, a P/E ratio of 9.63 and a beta of 1.96.
Banco Bradesco SA (NYSE:BBD) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. Equities research analysts expect that Banco Bradesco SA will post ($0.15) EPS for the current year.
The company also recently disclosed a dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, October 5th will be given a $0.162 dividend. The ex-dividend date is Monday, October 3rd. This is an increase from Banco Bradesco SA’s previous dividend of $0.01. Banco Bradesco SA’s payout ratio is presently 7.33%.
A number of research analysts recently weighed in on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and set a $9.30 price objective on shares of Banco Bradesco SA in a research report on Wednesday, September 21st. JPMorgan Chase & Co. downgraded shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Finally, Credit Suisse Group AG upgraded shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.65.
About Banco Bradesco SA
Banco Bradesco SA is a multiple service bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid?sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.
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