Banco Bradesco S.A. (NYSE:BBD) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its stake in Banco Bradesco S.A. (NYSE:BBD) by 2.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,019,761 shares of the bank’s stock after selling 768,318 shares during the quarter. Baillie Gifford & Co.’s holdings in Banco Bradesco were worth $85,173,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Inspire Investing LLC acquired a new stake in shares of Banco Bradesco during the first quarter valued at about $29,000. Blue Trust Inc. grew its stake in Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after purchasing an additional 5,623 shares in the last quarter. Insigneo Advisory Services LLC acquired a new stake in Banco Bradesco during the 2nd quarter valued at approximately $43,000. Mayport LLC purchased a new stake in Banco Bradesco during the 2nd quarter worth approximately $47,000. Finally, SG Americas Securities LLC acquired a new position in shares of Banco Bradesco in the 2nd quarter valued at approximately $49,000.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $2.31 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco S.A. has a 1 year low of $2.16 and a 1 year high of $3.65. The firm’s 50-day simple moving average is $2.65 and its 200-day simple moving average is $2.55.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data 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. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Equities research analysts forecast that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is currently 11.54%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised 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 report on Monday, August 19th.

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.