Tredje AP fonden raised its position in shares of Banco Bradesco SA (NYSE:BBD – Free Report) by 65.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,869,200 shares of the bank’s stock after purchasing an additional 8,239,200 shares during the period. Tredje AP fonden owned 0.20% of Banco Bradesco worth $69,494,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBD. EverSource Wealth Advisors LLC boosted its stake in Banco Bradesco by 100.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after purchasing an additional 4,353 shares during the period. Brooklyn Investment Group boosted its stake in Banco Bradesco by 1,276.5% during the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock valued at $36,000 after purchasing an additional 9,842 shares during the period. Checchi Capital Advisers LLC acquired a new position in Banco Bradesco during the 4th quarter valued at about $39,000. Ballentine Partners LLC acquired a new position in Banco Bradesco during the 4th quarter valued at about $41,000. Finally, GAMMA Investing LLC boosted its stake in Banco Bradesco by 40.1% during the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock valued at $42,000 after purchasing an additional 3,619 shares during the period.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Itau BBA Securities reissued an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Weiss Ratings raised shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.
Banco Bradesco Trading Up 1.3%
Shares of NYSE:BBD opened at $3.52 on Tuesday. The company has a 50 day moving average of $3.77 and a 200-day moving average of $3.70. The firm has a market cap of $37.25 billion, a P/E ratio of 9.01, a P/E/G ratio of 0.43 and a beta of 0.56. Banco Bradesco SA has a twelve month low of $2.66 and a twelve month high of $4.30. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17.
Banco Bradesco (NYSE:BBD – Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share for the quarter. The company had revenue of $1.50 billion during the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. As a group, analysts anticipate that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.
Banco Bradesco Increases Dividend
The business also recently declared a monthly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.0039 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 7.69%.
Banco Bradesco Profile
Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.
The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.
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