Eagle Bay Advisors LLC Has $54,000 Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Eagle Bay Advisors LLC grew its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 110.5% during the 3rd quarter, Holdings Channel reports. The firm owned 20,000 shares of the bank’s stock after buying an additional 10,500 shares during the period. Eagle Bay Advisors LLC’s holdings in Banco Bradesco were worth $54,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Inspire Investing LLC bought a new position in shares of Banco Bradesco during the 1st quarter worth approximately $29,000. Blue Trust Inc. boosted its stake in Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after purchasing an additional 5,623 shares during the period. Insigneo Advisory Services LLC bought a new stake in Banco Bradesco in the 2nd quarter valued at $43,000. Mayport LLC bought a new stake in Banco Bradesco in the 2nd quarter valued at $47,000. Finally, SG Americas Securities LLC bought a new stake in Banco Bradesco in the 2nd quarter valued at $49,000.

Banco Bradesco Price Performance

NYSE BBD traded down $0.03 during midday trading on Wednesday, hitting $2.61. The company had a trading volume of 12,714,201 shares, compared to its average volume of 21,432,012. The company has a market capitalization of $27.82 billion, a PE ratio of 11.46, a P/E/G ratio of 0.30 and a beta of 0.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $2.74 and a 200-day moving average price of $2.57. Banco Bradesco S.A. has a twelve month low of $2.16 and a twelve month high of $3.65.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Monday, August 5th. The bank reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The company had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $5.47 billion. As a group, analysts anticipate that Banco Bradesco S.A. will post 0.35 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 5th will be issued a $0.002 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.02 dividend on an annualized basis and a yield of 0.92%. Banco Bradesco’s payout ratio is presently 13.04%.

Analysts Set New Price Targets

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

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.