Thrivent Financial for Lutherans Purchases Shares of 662,595 Banco Bradesco SA $BBD

Thrivent Financial for Lutherans acquired a new position in shares of Banco Bradesco SA (NYSE:BBD) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 662,595 shares of the bank’s stock, valued at approximately $2,202,000.

A number of other hedge funds have also modified their holdings of BBD. EverSource Wealth Advisors LLC lifted its holdings in shares of Banco Bradesco by 100.5% during 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 last quarter. Boothbay Fund Management LLC acquired a new stake in Banco Bradesco during the 2nd quarter worth about $42,000. Osaic Holdings Inc. lifted its stake in Banco Bradesco by 34.7% during the second quarter. Osaic Holdings Inc. now owns 16,915 shares of the bank’s stock valued at $52,000 after buying an additional 4,355 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Banco Bradesco in the second quarter worth about $54,000. Finally, Sivia Capital Partners LLC acquired a new position in shares of Banco Bradesco in the second quarter worth about $62,000.

Banco Bradesco Stock Performance

NYSE:BBD opened at $4.00 on Wednesday. Banco Bradesco SA has a fifty-two week low of $1.93 and a fifty-two week high of $4.28. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 2.68. The stock’s 50-day moving average is $3.59 and its two-hundred day moving average is $3.36.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, February 6th. The bank reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. Sell-side analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.0036 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, March 4th. Banco Bradesco’s dividend payout ratio is 7.69%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Banco Bradesco has a consensus rating of “Moderate Buy” and an average target price of $2.00.

About Banco Bradesco

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.