Are Hedge Funds Betting Against Banco Bradesco SA (BBD)?

13 Août, 2017, 07:15 | Author: Marie-Claire Cellier
  • Banco Bradesco SA logo

Shares of Banco Bradesco S.A. (NYSE:BBD) tumbled -1.080% in morning trade Wednesday. City Of London Investment Management Co Ltd bought 251,124 shares as the company's stock rose 0.79% with the market. Eqis Capital Management Inc.'s holdings in Banco Bradesco SA were worth $183,000 as of its most recent filing with the SEC. USA Financial Portformulas Corp raised its position in shares of Banco Bradesco SA by 11.8% in the fourth quarter. Aperio Group LLC increased its stake in Banco Bradesco SA by 10.0% in the second quarter. It also increased its holding in Cigna Corp (NYSE:CI) by 3,697 shares in the quarter, for a total of 76,297 shares, and has risen its stake in Cbs Corp (NYSE:CBS). Finally, ZWJ Investment Counsel Inc. purchased a new stake in Banco Bradesco SA during the first quarter valued at about $157,000. Investec Asset Management LTD now owns 7,523,119 shares of the bank's stock valued at $77,037,000 after buying an additional 123,422 shares in the last quarter.

On the other hand the company has Relative Strength Index (RSI 14) of 66.7 along with Average True Range (ATR 14) of 0.19, Consequently Banco Bradesco Sa (NYSE:BBD)'s weekly and monthly volatility is 1.77%, 1.72% respectively. Profund Advisors LLC now owns 494,090 shares of the bank's stock valued at $5,059,000 after buying an additional 213,627 shares during the last quarter. Hedge funds and other institutional investors own 2.94% of the company's stock.

Trading volume for Banco Bradesco Sa American Depo was 200 by the end of trading on Friday.

Digging a bit further, company shares have been noted -4.98% off the 52 week high and 103.01% away from the 52 week low. The company has a market cap of $60.79 billion, a PE ratio of 10.79 and a beta of 1.78. Banco Bradesco has a 1 year low of $7.15 and a 1 year high of $10.37. The 50 day moving average was up by +6.30% whereas the 200 day average was up by +0.80%.

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The business also recently declared a special dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.0058 per share. This dividend represents a yield of $0.69. Banco Bradesco SA's dividend payout ratio (DPR) is 7.95%.

Another recent and important Banco Bradesco SA (ADR) (NYSE:BBD) news was published by Benzinga.com which published an article titled: "18 Biggest Mid-Day Losers For Thursday" on May 18, 2017. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and worldwide copyright laws. The correct version of this news story can be accessed at https://baseballnewssource.com/markets/sei-investments-co-has-46-40-million-position-in-banco-bradesco-sa-nysebbd-updated/1347946.html. Zacks Investment Research raised shares of Banco Bradesco SA from a "hold" rating to a "buy" rating and set a $12.00 price target for the company in a research report on Tuesday, April 18th. Finally, Scotiabank upgraded Banco Bradesco SA from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, June 28th. BidaskClub lowered Banco Bradesco SA from a "buy" rating to a "hold" rating in a research note on Friday, June 23rd. The forecast of 9 surveyed investment analysts covering the stock advises investors to Buy stake in the company. The stock tapped a 52-week high of US$10.37 while the mean 12-month price target for the shares is US$8.03.

Investec Asset Management North America Inc decreased its stake in Banco Bradesco Sa (BBD) by 3.3% based on its latest 2016Q4 regulatory filing with the SEC.

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