Larch Capital Partners LLC Makes New $8.04 Million Investment in Banco Bradesco SA $BBD

Larch Capital Partners LLC purchased a new stake in Banco Bradesco SA (NYSE:BBDFree Report) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,253,600 shares of the bank’s stock, valued at approximately $8,037,000. Banco Bradesco makes up approximately 1.1% of Larch Capital Partners LLC’s investment portfolio, making the stock its 5th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aquamarine Financial Cayman Ltd boosted its position in shares of Banco Bradesco by 8.1% in the 4th quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank’s stock worth $517,056,000 after buying an additional 11,137,145 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Banco Bradesco by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 88,405,292 shares of the bank’s stock valued at $298,810,000 after acquiring an additional 306,617 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Banco Bradesco by 25.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock worth $273,604,000 after acquiring an additional 16,908,425 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in Banco Bradesco during the second quarter worth about $250,398,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Banco Bradesco by 1.0% in the fourth quarter. Wellington Management Group LLP now owns 77,491,815 shares of the bank’s stock valued at $258,048,000 after purchasing an additional 756,107 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Itau BBA Securities restated an “outperform” rating on shares of Banco Bradesco in a research report on Friday, February 27th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Get Our Latest Stock Report on Banco Bradesco

Banco Bradesco Trading Down 1.9%

Shares of BBD stock opened at $3.37 on Friday. The firm has a 50-day moving average price of $3.68 and a 200 day moving average price of $3.68. Banco Bradesco SA has a twelve month low of $2.73 and a twelve month high of $4.30. The company has a market capitalization of $35.66 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 0.42 and a beta of 0.53. 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:BBDGet Free Report) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) for the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. The company had revenue of $1.50 billion for the quarter. Research analysts forecast that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, July 6th will be paid a dividend of $0.0038 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a c) annualized dividend and a dividend yield of 1.3%. Banco Bradesco’s dividend payout ratio is presently 7.69%.

Banco Bradesco Profile

(Free Report)

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.

See Also

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

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