ClariVest Asset Management LLC grew its holdings in Banco Bradesco SA (NYSE:BBD) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 363,315 shares of the bank’s stock after acquiring an additional 11,800 shares during the period. ClariVest Asset Management LLC’s holdings in Banco Bradesco SA were worth $4,022,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BBD. Bank of Montreal Can raised its position in Banco Bradesco SA by 30.0% in the second quarter. Bank of Montreal Can now owns 562,211 shares of the bank’s stock worth $4,779,000 after acquiring an additional 129,799 shares during the period. Eqis Capital Management Inc. raised its position in Banco Bradesco SA by 11.8% in the second quarter. Eqis Capital Management Inc. now owns 21,534 shares of the bank’s stock worth $183,000 after acquiring an additional 2,266 shares during the period. Aperio Group LLC raised its position in Banco Bradesco SA by 10.0% in the second quarter. Aperio Group LLC now owns 831,143 shares of the bank’s stock worth $7,065,000 after acquiring an additional 75,290 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Banco Bradesco SA in the second quarter worth approximately $3,990,000. Finally, Deltec Asset Management LLC raised its position in Banco Bradesco SA by 4.1% in the second quarter. Deltec Asset Management LLC now owns 88,200 shares of the bank’s stock worth $750,000 after acquiring an additional 3,500 shares during the period. Institutional investors and hedge funds own 2.90% of the company’s stock.
BBD has been the topic of several recent analyst reports. Goldman Sachs Group, Inc. (The) upgraded shares of Banco Bradesco SA from a “neutral” rating to a “buy” rating and set a $12.40 price objective on the stock in a research report on Monday, September 11th. Zacks Investment Research upgraded shares of Banco Bradesco SA from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. ValuEngine upgraded shares of Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Finally, Scotiabank downgraded shares of Banco Bradesco SA from an “outperform” rating to a “sector perform” rating in a report on Tuesday, September 5th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Banco Bradesco SA has an average rating of “Buy” and an average price target of $12.40.
Banco Bradesco SA (NYSE:BBD) traded up $0.25 during mid-day trading on Monday, hitting $10.31. 12,086,300 shares of the company were exchanged, compared to its average volume of 11,225,605. Banco Bradesco SA has a 52-week low of $7.15 and a 52-week high of $11.86. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $60,690.00, a PE ratio of 10.81, a PEG ratio of 1.03 and a beta of 1.75.
The company also recently declared a monthly dividend, which will be paid on Tuesday, January 9th. Investors of record on Tuesday, December 5th will be paid a dividend of $0.0058 per share. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.67%. Banco Bradesco SA’s dividend payout ratio is presently 6.59%.
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About Banco Bradesco SA
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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