Raymond James Financial Inc. Acquires New Shares in Banco Bradesco S.A. (NYSE:BBD)

Raymond James Financial Inc. 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 Securities & Exchange Commission. The institutional investor acquired 1,686,735 shares of the bank's stock, valued at approximately $3,222,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BBD. Insigneo Advisory Services LLC raised its position in shares of Banco Bradesco by 23.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank's stock worth $59,000 after purchasing an additional 4,260 shares during the last quarter. Eagle Bay Advisors LLC raised its holdings in shares of Banco Bradesco by 37.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank's stock valued at $54,000 after acquiring an additional 7,400 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Banco Bradesco by 78.2% in the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after acquiring an additional 8,801 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of Banco Bradesco in the third quarter valued at approximately $37,000. Finally, R Squared Ltd acquired a new stake in shares of Banco Bradesco in the fourth quarter worth approximately $30,000.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock traded down $0.04 on Monday, hitting $2.24. 32,754,825 shares of the company were exchanged, compared to its average volume of 30,416,003. Banco Bradesco S.A. has a 1-year low of $1.84 and a 1-year high of $2.98. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The stock has a market capitalization of $23.79 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a 50-day moving average price of $2.10 and a 200 day moving average price of $2.24.

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Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data 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 return on equity of 11.43% and a net margin of 8.46%. As a group, sell-side analysts predict 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 disclosed a monthly dividend, which will be paid on Friday, November 7th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.0398 per share. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. This represents a $0.48 annualized dividend and a yield of 21.34%. The ex-dividend date is Wednesday, April 2nd. Banco Bradesco's dividend payout ratio (DPR) is presently 43.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on BBD. HSBC raised Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price objective for the company 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 target price for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th.

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.