HighVista Strategies LLC Buys 48,300 Shares of Banco Bradesco S.A. (NYSE:BBD)

HighVista Strategies LLC grew its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 9.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 585,400 shares of the bank’s stock after acquiring an additional 48,300 shares during the quarter. HighVista Strategies LLC’s holdings in Banco Bradesco were worth $1,557,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BBD. Inspire Advisors LLC lifted its position in Banco Bradesco by 9.5% during the second quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after purchasing an additional 4,737 shares during the period. Blue Trust Inc. lifted its holdings in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after acquiring an additional 5,623 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Banco Bradesco by 1.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock worth $1,605,000 after acquiring an additional 8,000 shares in the last quarter. Simplicity Wealth LLC increased its stake in Banco Bradesco by 11.9% in the second quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock valued at $173,000 after acquiring an additional 8,165 shares during the last quarter. Finally, Atria Investments Inc increased its stake in Banco Bradesco by 24.3% in the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock valued at $117,000 after acquiring an additional 8,641 shares during the last quarter.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $2.08 on Tuesday. The company’s 50 day moving average price is $2.52 and its two-hundred day moving average price is $2.52. The firm has a market capitalization of $22.12 billion, a P/E ratio of 8.00, a P/E/G ratio of 0.25 and a beta of 0.97. Banco Bradesco S.A. has a fifty-two week low of $2.02 and a fifty-two week high of $3.65. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $9.18 billion during 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%. On average, 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 declared a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 11.54%.

Analysts Set New Price Targets

A number of brokerages have weighed in on BBD. The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and raised their target price for the company from $2.50 to $3.20 in a report on Monday, August 19th. JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

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.