Virtu Financial LLC Reduces Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Virtu Financial LLC decreased its stake in Banco Bradesco S.A. (NYSE:BBD) by 28.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 130,281 shares of the bank’s stock after selling 52,828 shares during the quarter. Virtu Financial LLC’s holdings in Banco Bradesco were worth $347,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in Banco Bradesco by 170.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after buying an additional 55,444,555 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Banco Bradesco by 19.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after acquiring an additional 12,228,662 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Banco Bradesco by 15.1% during the 3rd quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock worth $125,144,000 after purchasing an additional 6,171,193 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Banco Bradesco during the 3rd quarter valued at about $104,542,000. Finally, Itau Unibanco Holding S.A. raised its position in Banco Bradesco by 56.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after purchasing an additional 13,627,768 shares during the period.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $1.98 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $21.05 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The firm has a 50-day moving average of $2.39 and a two-hundred day moving average of $2.48. Banco Bradesco S.A. has a 1 year low of $1.97 and a 1 year high of $3.65.

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, topping the consensus estimate of $0.09 by $0.01. The company 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%. On average, research analysts forecast that Banco Bradesco S.A. will post 0.33 earnings per share for the current 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. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 annualized dividend and a dividend yield of 2.01%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 11.54%.

Analyst Upgrades and Downgrades

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

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.