Banco Bradesco S.A. (NYSE:BBD) Shares Purchased by Aigen Investment Management LP

Aigen Investment Management LP increased its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 24.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,613 shares of the bank’s stock after buying an additional 29,861 shares during the quarter. Aigen Investment Management LP’s holdings in Banco Bradesco were worth $403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Inspire Investing LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter worth $29,000. Blue Trust Inc. increased its position in Banco Bradesco by 99.9% during the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after purchasing an additional 5,623 shares during the last quarter. Insigneo Advisory Services LLC purchased a new position in Banco Bradesco during the second quarter worth about $43,000. Mayport LLC acquired a new position in Banco Bradesco in the 2nd quarter valued at about $47,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Banco Bradesco in the 2nd quarter valued at approximately $49,000.

Banco Bradesco Stock Up 1.3 %

Shares of NYSE:BBD opened at $2.35 on Friday. The business has a 50-day moving average price of $2.63 and a 200 day moving average price of $2.54. Banco Bradesco S.A. has a 12-month low of $2.16 and a 12-month high of $3.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $25.05 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 0.27 and a beta of 0.97.

Banco Bradesco (NYSE:BBD) last announced its quarterly 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. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Sell-side analysts expect that Banco Bradesco S.A. will post 0.34 EPS 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 given a dividend of $0.0033 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is currently 11.54%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2.50 to $3.20 in a research report on Monday, August 19th.

Banco Bradesco 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.