Banco Bradesco S.A. (NYSE:BBD) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Banco Bradesco S.A. (NYSE:BBD – Get Rating) by 144.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 168,408 shares of the bank’s stock after buying an additional 99,614 shares during the period. Thrivent Financial for Lutherans’ holdings in Banco Bradesco were worth $485,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. boosted its stake in shares of Banco Bradesco by 220.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 7,272 shares of the bank’s stock worth $27,000 after acquiring an additional 5,004 shares during the last quarter. Janiczek Wealth Management LLC purchased a new stake in shares of Banco Bradesco during the fourth quarter worth $25,000. Ieq Capital LLC purchased a new position in shares of Banco Bradesco in the third quarter worth about $43,000. Drive Wealth Management LLC acquired a new position in Banco Bradesco during the third quarter worth about $44,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Banco Bradesco during the 1st quarter worth approximately $57,000. 2.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BBD has been the subject of several analyst reports. Barclays lowered their price objective on Banco Bradesco from $3.50 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 7th. The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $3.70 to $2.70 in a research report on Thursday, February 16th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.93.

Banco Bradesco Trading Up 2.5 %

BBD opened at $3.24 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $34.53 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 0.97 and a beta of 0.71. The business has a fifty day moving average price of $2.80 and a 200 day moving average price of $2.78. Banco Bradesco S.A. has a 12 month low of $2.34 and a 12 month high of $4.32.

Banco Bradesco (NYSE:BBD – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The bank reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Banco Bradesco had a return on equity of 11.66% and a net margin of 9.54%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the company posted $0.12 earnings per share. Sell-side analysts expect that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Monday, June 5th will be issued a $0.0035 dividend. The ex-dividend date is Friday, June 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.30%. Banco Bradesco’s payout ratio is 9.68%.

About Banco Bradesco

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Banco Bradesco SA engages in the provision of financial and insurance services. It operates through Banking, and Insurance segments. The Banking segment includes banking activities. The Insurance segment covers auto, health, life, accident and property insurance, and pension plans aw well as capitalization bonds.