Franklin Resources Inc. Increases Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

Franklin Resources Inc. raised its stake in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 44,989,586 shares of the bank's stock after buying an additional 1,139,470 shares during the quarter. Franklin Resources Inc.'s holdings in Banco Bradesco were worth $120,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank's stock worth $30,000 after acquiring an additional 5,623 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of Banco Bradesco during the third quarter worth approximately $37,000. Insigneo Advisory Services LLC bought a new stake in shares of Banco Bradesco in the 2nd quarter valued at about $43,000. SG Americas Securities LLC bought a new position in Banco Bradesco during the second quarter worth about $49,000. Finally, Eagle Bay Advisors LLC increased its position in shares of Banco Bradesco by 110.5% during the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank's stock worth $54,000 after acquiring an additional 10,500 shares in the last quarter.

Banco Bradesco Stock Performance

Banco Bradesco stock traded down $0.04 during midday trading on Monday, hitting $1.98. The stock had a trading volume of 42,085,390 shares, compared to its average volume of 23,190,477. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a 52-week low of $1.97 and a 52-week high of $3.65. The firm's fifty day moving average is $2.40 and its two-hundred day moving average is $2.48. The company has a market capitalization of $21.05 billion, a PE ratio of 7.77, a P/E/G ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. On average, research analysts forecast that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is 11.54%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a research note on Monday, November 25th. The Goldman Sachs Group raised shares of Banco Bradesco from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $2.50 to $3.20 in a research report on Monday, August 19th.

Banco Bradesco Profile

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.