Banco Bradesco S.A. (NYSE:BBD) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lessened its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,019,761 shares of the bank’s stock after selling 768,318 shares during the quarter. Baillie Gifford & Co.’s holdings in Banco Bradesco were worth $85,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BBD. Banco Santander S.A. grew its holdings in shares of Banco Bradesco by 348.4% during the first quarter. Banco Santander S.A. now owns 1,692,954 shares of the bank’s stock worth $4,842,000 after buying an additional 1,315,380 shares in the last quarter. Boston Partners acquired a new stake in Banco Bradesco during the first quarter worth approximately $681,000. Sei Investments Co. grew its stake in 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 acquiring an additional 411,616 shares during the period. Marshall Wace LLP raised its holdings 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 valued at $17,705,000 after acquiring an additional 7,783,248 shares during the last quarter. Finally, Oaktree Fund Advisors LLC lifted its stake in shares of Banco Bradesco by 1.0% during the 2nd quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock worth $8,343,000 after purchasing an additional 35,111 shares during the period.

Analysts Set New Price Targets

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

Banco Bradesco Stock Performance

Shares of BBD stock opened at $2.31 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a one year low of $2.16 and a one year high of $3.65. The company has a 50 day moving average price of $2.65 and a 200 day moving average price of $2.55.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $5.62 billion. Analysts forecast 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 declared a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.0033 dividend. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 annualized dividend and a yield of 1.72%. Banco Bradesco’s dividend payout ratio (DPR) 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.