JPMorgan Chase & Co. Acquires 166,008 Shares of Banco Bradesco S.A. (NYSE:BBD)

JPMorgan Chase & Co. lifted its holdings in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 152.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,790 shares of the bank's stock after purchasing an additional 166,008 shares during the period. JPMorgan Chase & Co.'s holdings in Banco Bradesco were worth $731,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank's stock valued at $30,000 after buying an additional 5,623 shares during the period. Townsquare Capital LLC acquired a new stake in Banco Bradesco in the third quarter valued at approximately $37,000. Insigneo Advisory Services LLC bought a new stake in shares of Banco Bradesco during the second quarter valued at approximately $43,000. Eagle Bay Advisors LLC raised 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 purchasing an additional 10,500 shares during the period. Finally, First Affirmative Financial Network bought a new position in shares of Banco Bradesco in the 3rd quarter worth $66,000.

Banco Bradesco Stock Performance

NYSE BBD traded up $0.07 on Monday, hitting $2.00. 53,974,525 shares of the stock traded hands, compared to its average volume of 53,600,547. The firm has a market capitalization of $21.23 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 0.24 and a beta of 0.94. The business's fifty day moving average is $2.04 and its two-hundred day moving average is $2.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $3.36.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. As a group, equities analysts anticipate that Banco Bradesco S.A. will post 0.33 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.0031 per share. This represents a $0.04 annualized dividend and a yield of 1.86%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco's dividend payout ratio is 11.54%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BBD. The Goldman Sachs Group lowered their price objective on shares of Banco Bradesco from $3.20 to $2.30 and set a "buy" rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. cut shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th. Finally, HSBC raised Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price objective for the company in a report on Monday, January 13th.

About Banco Bradesco

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.