Bessemer Group Inc. grew its position in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,419,708 shares of the bank's stock after purchasing an additional 222,543 shares during the period. Bessemer Group Inc.'s holdings in Banco Bradesco were worth $8,441,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in Banco Bradesco by 13.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock worth $191,386,000 after buying an additional 12,236,689 shares during the period. ARGA Investment Management LP raised its position in shares of Banco Bradesco by 215.1% during the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank's stock worth $158,224,000 after purchasing an additional 56,552,808 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Banco Bradesco by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock valued at $108,507,000 after purchasing an additional 9,762,964 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Banco Bradesco by 26.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock valued at $97,079,000 after purchasing an additional 10,537,751 shares during the period. Finally, Franklin Resources Inc. increased its stake in Banco Bradesco by 1.8% during the 4th quarter. Franklin Resources Inc. now owns 45,810,825 shares of the bank's stock worth $87,499,000 after purchasing an additional 821,239 shares in the last quarter.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on BBD shares. The Goldman Sachs Group cut 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 report 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 for the company in a research note on Monday, January 13th.
Check Out Our Latest Analysis on Banco Bradesco
Banco Bradesco Stock Up 0.5 %
NYSE:BBD traded up $0.01 during trading hours on Monday, reaching $2.20. 32,959,643 shares of the stock were exchanged, compared to its average volume of 31,693,293. The stock has a market cap of $23.41 billion, a PE ratio of 7.33, a PEG ratio of 0.32 and a beta of 0.56. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.96. The firm has a 50 day moving average of $2.13 and a 200 day moving average of $2.20. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72.
Banco Bradesco (NYSE:BBD - Get Free Report) last announced its earnings results on Friday, February 7th. The bank reported $0.09 EPS 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 analysts expect 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, November 7th. Shareholders of record on Wednesday, April 2nd will be paid a $0.0398 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 21.68%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, April 2nd. Banco Bradesco's dividend payout ratio (DPR) is currently 6.67%.
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.
Featured Articles
Before you consider Banco Bradesco, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Banco Bradesco wasn't on the list.
While Banco Bradesco currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
