Walleye Capital LLC Purchases 2,580,482 Shares of Banco Bradesco S.A. (NYSE:BBD)

Walleye Capital LLC boosted its position in Banco Bradesco S.A. (NYSE:BBD) by 191.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,930,579 shares of the bank’s stock after purchasing an additional 2,580,482 shares during the quarter. Walleye Capital LLC’s holdings in Banco Bradesco were worth $10,455,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BBD. Blue Trust Inc. grew its stake in shares of Banco Bradesco by 99.9% in the third 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 last quarter. Townsquare Capital LLC bought a new position in Banco Bradesco in the 3rd quarter worth about $37,000. Insigneo Advisory Services LLC purchased a new stake in Banco Bradesco during the 2nd quarter valued at about $43,000. Mayport LLC bought a new stake in Banco Bradesco during the 2nd quarter valued at about $47,000. Finally, SG Americas Securities LLC purchased a new position in Banco Bradesco in the second quarter worth about $49,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and raised their price target for the company 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 report on Monday, November 25th.

Banco Bradesco Trading Down 5.8 %

Shares of BBD stock opened at $2.13 on Friday. 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 12-month low of $2.02 and a 12-month high of $3.65. The firm’s 50 day moving average is $2.52 and its 200 day moving average is $2.52.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate 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 expect that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm 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 an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.86%. 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.