Legal & General Group Plc reduced its holdings in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,111,012 shares of the bank's stock after selling 1,085,026 shares during the period. Legal & General Group Plc's holdings in Banco Bradesco were worth $7,831,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Invesco Ltd. increased its position in shares of Banco Bradesco by 16.4% in the fourth quarter. Invesco Ltd. now owns 311,020 shares of the bank's stock valued at $594,000 after acquiring an additional 43,848 shares during the period. Peapack Gladstone Financial Corp lifted its position in Banco Bradesco by 54.5% during the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock valued at $32,000 after acquiring an additional 6,000 shares during the period. Wells Fargo & Company MN grew its holdings in Banco Bradesco by 10,645.5% in the fourth quarter. Wells Fargo & Company MN now owns 332,143 shares of the bank's stock worth $634,000 after purchasing an additional 329,052 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Banco Bradesco by 13.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock valued at $191,386,000 after purchasing an additional 12,236,689 shares in the last quarter. Finally, Groupama Asset Managment boosted its position in shares of Banco Bradesco by 12.6% in the 4th quarter. Groupama Asset Managment now owns 317,173 shares of the bank's stock worth $603,000 after purchasing an additional 35,525 shares in the last quarter.
Banco Bradesco Stock Performance
Shares of BBD stock remained flat at $2.22 on Monday. The stock had a trading volume of 13,704,325 shares, compared to its average volume of 31,823,694. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. Banco Bradesco S.A. has a 52-week low of $1.84 and a 52-week high of $2.96. The firm has a market cap of $23.63 billion, a PE ratio of 7.40, a P/E/G ratio of 0.32 and a beta of 0.56. The stock's 50-day simple moving average is $2.14 and its 200 day simple moving average is $2.18.
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 analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, equities research analysts anticipate that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.
Banco Bradesco Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, November 7th. Investors of record on Wednesday, April 2nd will be issued a $0.0398 dividend. This represents a $0.48 annualized dividend and a yield of 21.49%. This is a positive change from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date is Wednesday, April 2nd. Banco Bradesco's dividend payout ratio is currently 6.67%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Banco Bradesco from a "buy" rating to a "sell" rating and dropped their target price for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC upgraded 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.
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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