Banco Santander S.A. raised its stake in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 402.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,802,819 shares of the bank's stock after buying an additional 1,443,986 shares during the period. Banco Santander S.A.'s holdings in Banco Bradesco were worth $3,443,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of BBD. ARGA Investment Management LP increased its holdings in shares of Banco Bradesco by 215.1% in the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank's stock valued at $158,224,000 after buying an additional 56,552,808 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Banco Bradesco by 170.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank's stock valued at $233,988,000 after purchasing an additional 55,444,555 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Banco Bradesco during the 3rd quarter valued at $104,542,000. Itau Unibanco Holding S.A. raised its stake in Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank's stock valued at $100,061,000 after purchasing an additional 13,627,768 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Banco Bradesco by 19.2% during the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank's stock valued at $201,716,000 after purchasing an additional 12,228,662 shares during the period.
Banco Bradesco Stock Down 0.2 %
Shares of Banco Bradesco stock traded down $0.01 on Tuesday, hitting $2.00. 56,313,404 shares of the company traded hands, compared to its average volume of 28,993,671. The company has a 50-day moving average price of $2.02 and a 200 day moving average price of $2.30. 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 S.A. has a 12-month low of $1.84 and a 12-month high of $2.98. The company has a market cap of $21.23 billion, a PE ratio of 6.65, a PEG ratio of 0.32 and a beta of 0.94.
Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Sell-side analysts predict that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.
Banco Bradesco Increases Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.0033 per share. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, March 7th. Banco Bradesco's payout ratio is currently 6.67%.
Analyst Upgrades and Downgrades
BBD has been the topic of several recent analyst reports. The Goldman Sachs Group downgraded shares of Banco Bradesco from a "buy" rating to a "sell" rating and cut their target price for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a research note on Monday, November 25th.
Check Out Our Latest Report on BBD
About Banco Bradesco
(
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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