Parallel Advisors LLC Buys 2,450 Shares of Banco Bradesco SA (BBD)

Parallel Advisors LLC boosted its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 293.1% in the first quarter, HoldingsChannel.com reports. The fund owned 3,286 shares of the bank’s stock after acquiring an additional 2,450 shares during the quarter. Parallel Advisors LLC’s holdings in Banco Bradesco were worth $36,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Investment Advisors Ltd. purchased a new position in Banco Bradesco during the 4th quarter valued at $29,000. Lindbrook Capital LLC purchased a new position in Banco Bradesco during the 4th quarter valued at $44,000. Navellier & Associates Inc boosted its holdings in Banco Bradesco by 89.3% during the 4th quarter. Navellier & Associates Inc now owns 6,036 shares of the bank’s stock valued at $60,000 after acquiring an additional 2,847 shares during the period. Advisor Group Inc. boosted its holdings in Banco Bradesco by 125.8% during the 4th quarter. Advisor Group Inc. now owns 8,350 shares of the bank’s stock valued at $83,000 after acquiring an additional 4,652 shares during the period. Finally, OLD Mission Capital LLC purchased a new position in Banco Bradesco during the 4th quarter valued at $100,000. Institutional investors own 2.41% of the company’s stock.

Shares of NYSE BBD opened at $8.09 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $66.43 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.47 and a beta of 1.02. Banco Bradesco SA has a twelve month low of $5.41 and a twelve month high of $10.46.

The company also recently announced a monthly dividend, which was paid on Thursday, May 9th. Shareholders of record on Monday, April 8th were given a dividend of $0.004 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Friday, April 5th. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.04%.

A number of research firms recently issued reports on BBD. ValuEngine upgraded Banco Bradesco from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Scotiabank cut Banco Bradesco from a “sector perform” rating to an “underperform” rating in a report on Tuesday, February 26th. Finally, Zacks Investment Research upgraded Banco Bradesco from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective for the company in a report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Banco Bradesco currently has a consensus rating of “Hold” and an average price target of $10.00.

ILLEGAL ACTIVITY NOTICE: This piece was posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.thelincolnianonline.com/2019/05/17/parallel-advisors-llc-buys-2450-shares-of-banco-bradesco-sa-bbd.html.

Banco Bradesco Profile

Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.

Recommended Story: Forex

Want to see what other hedge funds are holding BBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Bradesco SA (NYSE:BBD).

Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.