Squarepoint Ops LLC bought a new stake in Banco Bradesco SA (NYSE:BBD) during the third quarter, HoldingsChannel.com reports. The fund bought 241,827 shares of the bank’s stock, valued at approximately $1,968,000.
Several other hedge funds have also modified their holdings of the company. Virtus ETF Advisers LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter valued at about $36,000. Parallel Advisors LLC boosted its holdings in Banco Bradesco by 50.4% in the 3rd quarter. Parallel Advisors LLC now owns 6,660 shares of the bank’s stock worth $54,000 after acquiring an additional 2,232 shares during the period. Compagnie Lombard Odier SCmA grew its position in Banco Bradesco by 20.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 7,994 shares of the bank’s stock valued at $79,000 after acquiring an additional 1,331 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Banco Bradesco in the second quarter valued at approximately $107,000. Finally, Advisor Group Inc. raised its stake in shares of Banco Bradesco by 17.3% during the second quarter. Advisor Group Inc. now owns 11,908 shares of the bank’s stock valued at $117,000 after purchasing an additional 1,758 shares during the period. 2.71% of the stock is currently owned by institutional investors and hedge funds.
BBD has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Banco Bradesco from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. UBS Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a report on Thursday, November 21st. Finally, ValuEngine raised shares of Banco Bradesco from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.29.
Shares of NYSE BBD opened at $8.28 on Monday. The firm has a market cap of $66.19 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.62 and a beta of 0.78. Banco Bradesco SA has a 1 year low of $7.53 and a 1 year high of $10.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.10 and a current ratio of 1.13. The stock’s 50-day simple moving average is $8.27 and its 200-day simple moving average is $8.72.
Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Wednesday, October 30th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $6.52 billion. Banco Bradesco had a net margin of 16.84% and a return on equity of 19.01%. As a group, research analysts predict that Banco Bradesco SA will post 0.77 EPS for the current year.
About Banco Bradesco
Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.
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