LGT Fund Management Co Ltd. Invests $2.61 Million in Banco Bradesco S.A. (NYSE:BBD)

LGT Fund Management Co Ltd. acquired a new position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,364,814 shares of the bank's stock, valued at approximately $2,607,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Banco Bradesco by 99.9% during the third 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 last quarter. R Squared Ltd bought a new position in shares of Banco Bradesco during the 4th quarter worth approximately $30,000. Traveka Wealth LLC purchased a new stake in Banco Bradesco during the fourth quarter valued at approximately $31,000. Townsquare Capital LLC acquired a new stake in Banco Bradesco in the third quarter valued at approximately $37,000. Finally, Eagle Bay Advisors LLC grew its holdings in Banco Bradesco by 37.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank's stock worth $54,000 after purchasing an additional 7,400 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. HSBC upgraded 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. The Goldman Sachs Group downgraded Banco Bradesco from a "buy" rating to a "sell" rating and lowered their price target for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a report on Monday, November 25th.

Banco Bradesco Stock Performance

BBD traded up $0.03 on Thursday, reaching $2.07. 54,401,316 shares of the stock were exchanged, compared to its average volume of 28,499,488. 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 company's 50-day moving average price is $2.01 and its 200 day moving average price is $2.33. The firm has a market capitalization of $21.98 billion, a PE ratio of 6.88, a PEG ratio of 0.32 and a beta of 0.94. Banco Bradesco S.A. has a fifty-two week low of $1.84 and a fifty-two week high of $2.98.

Banco Bradesco (NYSE:BBD - Get Free Report) last released 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%. As a group, sell-side analysts forecast that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 7th will be given a dividend of $0.0033 per share. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Friday, March 7th. Banco Bradesco's dividend payout ratio (DPR) is currently 6.67%.

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.