Algebris UK Ltd acquired a new stake in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,649,330 shares of the bank's stock, valued at approximately $14,111,000. Banco Bradesco comprises about 3.6% of Algebris UK Ltd's portfolio, making the stock its 11th largest holding. Algebris UK Ltd owned about 0.07% of Banco Bradesco as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Insigneo Advisory Services LLC lifted its holdings in Banco Bradesco by 23.9% in the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank's stock worth $59,000 after buying an additional 4,260 shares during the period. HighTower Advisors LLC increased its stake in shares of Banco Bradesco by 27.2% during the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock valued at $48,000 after purchasing an additional 5,421 shares in the last quarter. Eagle Bay Advisors LLC increased its stake in shares of Banco Bradesco by 37.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank's stock valued at $54,000 after purchasing an additional 7,400 shares in the last quarter. Atria Investments Inc increased its stake in shares of Banco Bradesco by 24.3% during the third quarter. Atria Investments Inc now owns 44,151 shares of the bank's stock valued at $117,000 after purchasing an additional 8,641 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after purchasing an additional 8,801 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on BBD shares. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th. The Goldman Sachs Group downgraded shares of Banco Bradesco from a "buy" rating to a "sell" rating and reduced their price target for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th. Finally, HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price target for the company in a research report on Monday, January 13th.
Check Out Our Latest Stock Analysis on Banco Bradesco
Banco Bradesco Trading Up 1.1 %
NYSE:BBD traded up $0.03 during mid-day trading on Friday, hitting $2.24. 31,126,121 shares of the stock traded hands, compared to its average volume of 29,865,159. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.32 and a beta of 0.94. Banco Bradesco S.A. has a 52 week low of $1.84 and a 52 week high of $2.98. The firm's 50 day moving average is $2.06 and its two-hundred day moving average is $2.27. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48.
Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, equities research analysts predict that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.
Banco Bradesco Increases Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 9th. Stockholders of record on Thursday, April 3rd will be paid a $0.0033 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's dividend payout ratio is presently 6.67%.
Banco Bradesco Company Profile
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Free Report)
Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.
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