Point72 Asset Management L.P. Has $5.17 Million Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Point72 Asset Management L.P. boosted its holdings in Banco Bradesco S.A. (NYSE:BBD) by 312.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,945,100 shares of the bank’s stock after acquiring an additional 1,473,900 shares during the quarter. Point72 Asset Management L.P.’s holdings in Banco Bradesco were worth $5,174,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BBD. Sei Investments Co. boosted its holdings in shares of Banco Bradesco by 1.9% in the 2nd quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock worth $48,788,000 after buying an additional 411,616 shares during the last quarter. Marshall Wace LLP lifted its stake in Banco Bradesco by 6,437.5% in the 2nd quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock worth $17,705,000 after purchasing an additional 7,783,248 shares in the last quarter. Oaktree Fund Advisors LLC boosted its stake in Banco Bradesco by 1.0% during the second quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock valued at $8,343,000 after buying an additional 35,111 shares during the period. Atomi Financial Group Inc. boosted its position in shares of Banco Bradesco by 67.3% during the 2nd quarter. Atomi Financial Group Inc. now owns 89,818 shares of the bank’s stock valued at $201,000 after acquiring an additional 36,125 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Banco Bradesco by 17.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 873,420 shares of the bank’s stock valued at $1,966,000 after purchasing an additional 130,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

BBD has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2.50 to $3.20 in a research report on Monday, August 19th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th.

Banco Bradesco Stock Performance

Shares of NYSE:BBD opened at $2.05 on Monday. The business has a 50-day simple moving average of $2.47 and a two-hundred day simple moving average of $2.50. 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 released its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Equities research analysts forecast that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, December 4th. Banco Bradesco’s payout ratio is presently 11.54%.

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.