Aigen Investment Management LP Grows Position in Banco Bradesco S.A. (NYSE:BBD)

Aigen Investment Management LP grew its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 24.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,613 shares of the bank’s stock after purchasing an additional 29,861 shares during the quarter. Aigen Investment Management LP’s holdings in Banco Bradesco were worth $403,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BBD. Inspire Investing LLC purchased a new position in Banco Bradesco in the first quarter valued at $29,000. Blue Trust Inc. increased its stake in shares of 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 in the last quarter. Insigneo Advisory Services LLC acquired a new position in Banco Bradesco in the 2nd quarter worth about $43,000. Eagle Bay Advisors LLC boosted its position in Banco Bradesco by 110.5% during the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock worth $54,000 after purchasing an additional 10,500 shares in the last quarter. Finally, Mayport LLC acquired a new stake in Banco Bradesco in the second quarter valued at approximately $47,000.

Banco Bradesco Trading Up 1.3 %

Shares of Banco Bradesco stock opened at $2.35 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a twelve month low of $2.16 and a twelve month high of $3.65. The firm has a market capitalization of $25.05 billion, a PE ratio of 9.04, a P/E/G ratio of 0.27 and a beta of 0.97. The firm’s 50-day moving average price is $2.63 and its 200 day moving average price is $2.54.

Banco Bradesco (NYSE:BBD) last released its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. On average, sell-side analysts predict that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.0033 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.69%. Banco Bradesco’s dividend payout ratio is presently 11.54%.

Analyst Upgrades and Downgrades

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

Banco Bradesco Profile

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.