Banco Santander S.A. Sells 2,188,333 Shares of Banco Bradesco S.A. (NYSE:BBD)

Banco Santander S.A. decreased its position in Banco Bradesco S.A. (NYSE:BBD) by 85.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,833 shares of the bank’s stock after selling 2,188,333 shares during the quarter. Banco Santander S.A.’s holdings in Banco Bradesco were worth $954,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after buying an additional 5,623 shares during the last quarter. Insigneo Advisory Services LLC bought a new position in Banco Bradesco during the second quarter valued at about $43,000. Mayport LLC purchased a new stake in Banco Bradesco during the second quarter worth about $47,000. SG Americas Securities LLC bought a new stake in Banco Bradesco in the second quarter worth about $49,000. Finally, Eagle Bay Advisors LLC boosted its stake in Banco Bradesco by 110.5% in the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock valued at $54,000 after acquiring an additional 10,500 shares during the last quarter.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Stock Performance

BBD stock opened at $2.38 on Friday. The stock has a fifty day moving average of $2.57 and a 200-day moving average of $2.53. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. As a group, sell-side analysts forecast that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.0033 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.67%. Banco Bradesco’s payout ratio is presently 11.54%.

Banco Bradesco Company Profile

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.