Quantbot Technologies LP Has $2.77 Million Stake in Banco Bradesco S.A. (NYSE:BBD)

Quantbot Technologies LP reduced its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,041,723 shares of the bank’s stock after selling 162,691 shares during the period. Quantbot Technologies LP’s holdings in Banco Bradesco were worth $2,771,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BBD. Blue Trust Inc. lifted its stake in Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after acquiring an additional 5,623 shares in the last quarter. Insigneo Advisory Services LLC acquired a new stake in shares of Banco Bradesco in the second quarter valued at approximately $43,000. Mayport LLC bought a new stake in shares of Banco Bradesco in the second quarter worth $47,000. SG Americas Securities LLC bought a new position in shares of Banco Bradesco in the 2nd quarter valued at about $49,000. Finally, Eagle Bay Advisors LLC increased its position in shares of 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 Upgrades and Downgrades

BBD has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2.50 to $3.20 in a research note on Monday, August 19th. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $2.26 on Thursday. Banco Bradesco S.A. has a 52 week low of $2.16 and a 52 week high of $3.65. The company has a 50-day simple moving average of $2.54 and a 200 day simple moving average of $2.52. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

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

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.0033 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.75%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is 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.