Russell Investments Group Ltd. reduced its stake in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 38.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,285,706 shares of the bank's stock after selling 6,534,743 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Banco Bradesco worth $19,646,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of Banco Bradesco by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank's stock worth $120,122,000 after acquiring an additional 1,139,470 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Banco Bradesco by 85.5% in the fourth quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank's stock worth $7,519,000 after acquiring an additional 1,814,009 shares during the last quarter. State Street Corp boosted its stake in shares of Banco Bradesco by 71.0% in the 3rd quarter. State Street Corp now owns 15,778,647 shares of the bank's stock valued at $42,715,000 after purchasing an additional 6,551,698 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Banco Bradesco during the fourth quarter worth $66,000. Finally, Banco Santander S.A. increased its holdings in Banco Bradesco by 402.4% in the 4th quarter. Banco Santander S.A. now owns 1,802,819 shares of the bank's stock worth $3,443,000 after purchasing an additional 1,443,986 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several equities 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 price target for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price for the company in a research note on Monday, January 13th.
Get Our Latest Stock Report on Banco Bradesco
Banco Bradesco Stock Up 0.2 %
BBD stock traded up $0.01 during trading on Tuesday, reaching $2.21. 8,755,818 shares of the stock were exchanged, compared to its average volume of 31,604,043. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.96. The firm's 50 day moving average is $2.13 and its 200 day moving average is $2.20. The firm has a market cap of $23.47 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 0.32 and a beta of 0.56.
Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, research analysts forecast that Banco Bradesco S.A. will post 0.37 EPS for the current year.
Banco Bradesco Increases Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, November 7th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.0398 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.48 annualized dividend and a yield of 21.63%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's dividend payout ratio is 6.67%.
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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