Massachusetts Financial Services Co. MA Raises Holdings in Banco Bradesco SA (NYSE:BBD)

Massachusetts Financial Services Co. MA increased its position in shares of Banco Bradesco SA (NYSE:BBD) by 17.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,353,709 shares of the bank’s stock after acquiring an additional 1,812,914 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Banco Bradesco were worth $100,558,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its holdings in shares of Banco Bradesco by 22.0% in the 3rd quarter. Fisher Asset Management LLC now owns 50,585,477 shares of the bank’s stock valued at $411,766,000 after purchasing an additional 9,136,438 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Banco Bradesco by 12.9% during the 2nd quarter. Vanguard Group Inc. now owns 42,632,672 shares of the bank’s stock valued at $418,653,000 after acquiring an additional 4,875,984 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Banco Bradesco by 11.5% during the 2nd quarter. BlackRock Inc. now owns 33,765,301 shares of the bank’s stock valued at $331,576,000 after acquiring an additional 3,490,926 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Banco Bradesco by 17.9% during the 2nd quarter. Invesco Ltd. now owns 32,812,785 shares of the bank’s stock valued at $322,221,000 after acquiring an additional 4,977,713 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of Banco Bradesco by 26.9% during the 2nd quarter. Baillie Gifford & Co. now owns 27,044,061 shares of the bank’s stock valued at $265,572,000 after acquiring an additional 5,732,189 shares in the last quarter. Hedge funds and other institutional investors own 3.07% of the company’s stock.

Several equities analysts recently weighed in on BBD shares. ValuEngine upgraded shares of Banco Bradesco from a “strong sell” rating to a “sell” rating in a report on Friday, November 1st. Zacks Investment Research upgraded shares of Banco Bradesco from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley upgraded shares of Banco Bradesco from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $10.29.

Banco Bradesco stock traded down $0.04 during midday trading on Thursday, hitting $7.92. 3,010,225 shares of the stock were exchanged, compared to its average volume of 14,620,347. Banco Bradesco SA has a 1 year low of $7.53 and a 1 year high of $10.55. The firm has a market cap of $65.78 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.61 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.13 and a quick ratio of 1.10. The company has a 50 day moving average price of $8.34 and a two-hundred day moving average price of $8.81.

The company also recently declared a — dividend, which was paid on Friday, November 8th. Investors of record on Thursday, October 3rd were paid a dividend of $0.0046 per share. This represents a yield of 2.5%. The ex-dividend date was Wednesday, October 2nd. Banco Bradesco’s dividend payout ratio (DPR) is 7.04%.

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

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