Renaissance Technologies LLC Sells 2,147,400 Shares of Banco Bradesco SA (NYSE:BBD)

Renaissance Technologies LLC lessened its position in shares of Banco Bradesco SA (NYSE:BBD – Free Report) by 44.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,687,695 shares of the bank’s stock after selling 2,147,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Banco Bradesco were worth $6,020,000 as of its most recent SEC filing.

Other large investors have recently bought and sold shares of the company. Inspire Investing LLC purchased a new position in shares of Banco Bradesco in the first quarter valued at about $29,000. Vanguard Personalized Indexing Management LLC purchased a new position in Banco Bradesco in the fourth quarter valued at about $46,000. Mayport LLC bought a new position in shares of Banco Bradesco in the second quarter valued at about $47,000. SG Americas Securities LLC purchased a new stake in shares of Banco Bradesco in the second quarter valued at about $49,000. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Banco Bradesco by 27.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after acquiring an additional 4,550 shares in the last quarter.

Analysts on Wall Street are forecasting an increase

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

Get the latest stock report on Banco Bradesco

Banco Bradesco price performance

Shares of BBD stock opened at $2.67 on Friday. The stock’s 50-day simple moving average is $2.62 and its 200-day simple moving average is $2.60. The company has a quick ratio of 0.76, a current ratio of 0.76, and a debt-to-equity ratio of 0.62. Banco Bradesco SA has a fifty-two week low of $2.16 and a fifty-two week high of $3.65.

Banco Bradesco (NYSE:BBD – Get Free Report ) last posted its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share 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 for the quarter, compared to analyst estimates of $5.47 billion. equities research analysts forecast that Banco Bradesco SA will post 0.35 EPS for the current fiscal year.

Banco Bradesco Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, October 2nd will be given a $0.0035 dividend. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Wednesday, October 2. Banco Bradesco’s dividend payout ratio (DPR) is 13.04%.

About Banco Bradesco

(Free Report)

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, companies and businesses in Brazil and around the world. The company operates through two segments, Banking and Insurance. Offers checking, savings, click and payroll accounts; real estate loan, vehicle financing, salary loans, mortgage loans, microcredit, leasing and personal and installment loans; overdraft and agribusiness loans; debit and business cards; financial and security services; products from the consortium; auto, personal accident, dental, travel and life insurance; investment products; pension products; Currency exchange services; capitalization bonds; and internet banking.

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