Athena Capital Advisors LLC Acquires Shares of 14,200 Banco Bradesco SA (BBD)

Athena Capital Advisors LLC acquired a new stake in shares of Banco Bradesco SA (NYSE:BBD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,200 shares of the bank’s stock, valued at approximately $101,000.

A number of other hedge funds also recently modified their holdings of BBD. Standard Life Aberdeen plc boosted its position in Banco Bradesco by 20.1% during the second quarter. Standard Life Aberdeen plc now owns 165,169,076 shares of the bank’s stock valued at $1,133,886,000 after purchasing an additional 27,683,861 shares in the last quarter. BlackRock Inc. boosted its holdings in Banco Bradesco by 23.4% in the second quarter. BlackRock Inc. now owns 39,233,633 shares of the bank’s stock worth $269,143,000 after acquiring an additional 7,441,386 shares in the last quarter. Sei Investments Co. boosted its holdings in Banco Bradesco by 190.8% in the second quarter. Sei Investments Co. now owns 6,417,040 shares of the bank’s stock worth $44,021,000 after acquiring an additional 4,210,184 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Banco Bradesco by 9.9% in the second quarter. Fisher Asset Management LLC now owns 35,424,652 shares of the bank’s stock worth $243,013,000 after acquiring an additional 3,192,725 shares in the last quarter. Finally, Pendal Group Ltd boosted its holdings in Banco Bradesco by 133.4% in the second quarter. Pendal Group Ltd now owns 4,053,437 shares of the bank’s stock worth $27,807,000 after acquiring an additional 2,316,540 shares in the last quarter. 3.13% of the stock is currently owned by institutional investors.

Shares of NYSE BBD opened at $9.86 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.13. The stock has a market capitalization of $66.00 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 0.64 and a beta of 1.14. Banco Bradesco SA has a fifty-two week low of $6.49 and a fifty-two week high of $13.18.

The firm also recently declared a monthly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 6th will be issued a $0.0051 dividend. This represents a $0.06 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Monday, November 5th. Banco Bradesco’s dividend payout ratio is presently 5.62%.

Several brokerages have weighed in on BBD. ValuEngine raised Banco Bradesco from a “strong sell” rating to a “sell” rating in a report on Sunday, July 8th. Zacks Investment Research raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Monday, October 1st. Finally, Santander raised Banco Bradesco from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.00.

Banco Bradesco Company 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.

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

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