Massachusetts Financial Services Co. MA grew its holdings in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 13.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,202,214 shares of the bank's stock after acquiring an additional 12,236,689 shares during the period. Massachusetts Financial Services Co. MA owned about 0.94% of Banco Bradesco worth $191,386,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new position in Banco Bradesco in the fourth quarter valued at about $30,000. Traveka Wealth LLC purchased a new position in shares of Banco Bradesco during the 4th quarter valued at approximately $31,000. Townsquare Capital LLC acquired a new stake in shares of Banco Bradesco during the third quarter worth approximately $37,000. Blue Trust Inc. grew its position in shares of Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock worth $38,000 after buying an additional 8,801 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Banco Bradesco by 27.2% in the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after buying an additional 5,421 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of research analysts have 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 research note on Monday, January 13th. The Goldman Sachs Group cut shares of Banco Bradesco from a "buy" rating to a "sell" rating and reduced their price target for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th.
Check Out Our Latest Analysis on Banco Bradesco
Banco Bradesco Stock Performance
BBD traded up $0.14 during trading hours on Wednesday, hitting $2.16. 64,780,639 shares of the stock were exchanged, compared to its average volume of 31,443,091. The stock has a market cap of $22.99 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.56. The stock has a 50-day simple moving average of $2.13 and a 200-day simple moving average of $2.21. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $2.96.
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%. Analysts anticipate that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.
Banco Bradesco Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, November 7th. Shareholders of record on Wednesday, April 2nd will be issued a $0.0398 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 22.08%. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's dividend payout ratio (DPR) is currently 6.67%.
Banco Bradesco Profile
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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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