Franklin Resources Inc. Buys 821,239 Shares of Banco Bradesco S.A. (NYSE:BBD)

Franklin Resources Inc. raised its stake in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,810,825 shares of the bank's stock after buying an additional 821,239 shares during the quarter. Franklin Resources Inc. owned 0.43% of Banco Bradesco worth $87,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BBD. Townsquare Capital LLC bought a new stake in Banco Bradesco in the third quarter valued at approximately $37,000. R Squared Ltd acquired a new stake in shares of Banco Bradesco during the fourth quarter worth about $30,000. Traveka Wealth LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $31,000. Blue Trust Inc. increased its stake in Banco Bradesco by 78.2% during the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock worth $38,000 after purchasing an additional 8,801 shares in the last quarter. Finally, Insigneo Advisory Services LLC lifted its stake in Banco Bradesco by 23.9% in the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank's stock valued at $59,000 after buying an additional 4,260 shares in the last quarter.

Banco Bradesco Stock Down 4.3 %

BBD stock traded down $0.10 during midday trading on Monday, hitting $2.10. The company's stock had a trading volume of 25,568,023 shares, compared to its average volume of 30,931,307. The company's fifty day moving average price is $2.13 and its 200 day moving average price is $2.23. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.97. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The stock has a market capitalization of $22.30 billion, a P/E ratio of 6.98, a PEG ratio of 0.32 and a beta of 0.56.

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Banco Bradesco (NYSE:BBD - Get Free Report) last issued its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, equities research analysts predict that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 7th. Stockholders of record on Wednesday, April 2nd will be given a $0.0398 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 22.77%. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date is Wednesday, April 2nd. Banco Bradesco's dividend payout ratio (DPR) is presently 43.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HSBC upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price objective on the stock in a report on Monday, January 13th. The Goldman Sachs Group lowered Banco Bradesco from a "buy" rating to a "sell" rating and dropped their target price for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th.

Banco Bradesco Company 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.