Traveka Wealth LLC Increases Holdings in Banco Bradesco SA (NYSE:BBD)

Traveka Wealth LLC increased its position in shares of Banco Bradesco SA (NYSE:BBD) by 29.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,333 shares of the bank’s stock after purchasing an additional 4,910 shares during the period. Traveka Wealth LLC’s holdings in Banco Bradesco were worth $48,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in Banco Bradesco by 13.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank’s stock valued at $191,386,000 after buying an additional 12,236,689 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Banco Bradesco by 26.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank’s stock worth $97,079,000 after acquiring an additional 10,537,751 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Banco Bradesco by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank’s stock worth $108,507,000 after acquiring an additional 9,762,964 shares in the last quarter. Marshall Wace LLP increased its stake in Banco Bradesco by 45.4% during the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank’s stock valued at $52,988,000 after purchasing an additional 8,661,231 shares in the last quarter. Finally, Algebris UK Ltd acquired a new position in Banco Bradesco during the 4th quarter valued at approximately $14,111,000.

Banco Bradesco Stock Performance

BBD opened at $3.07 on Friday. The firm’s fifty day simple moving average is $2.83 and its two-hundred day simple moving average is $2.34. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 0.45 and a beta of 0.71. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63. Banco Bradesco SA has a 52-week low of $1.84 and a 52-week high of $3.13.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Wednesday, May 7th. The bank reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $31.24 billion. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. Equities analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.0351 per share. This represents a dividend yield of 4.7%. The ex-dividend date is Wednesday, July 2nd. Banco Bradesco’s dividend payout ratio is presently 9.38%.

Analysts Set New Price Targets

Several analysts have recently commented on BBD shares. Citigroup raised shares of Banco Bradesco from a “hold” rating to a “buy” rating in a report on Wednesday, May 28th. Bank of America raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.40.

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.