State Street Corp Purchases 6,551,698 Shares of Banco Bradesco S.A. (NYSE:BBD)

State Street Corp lifted its position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 71.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,778,647 shares of the bank's stock after purchasing an additional 6,551,698 shares during the period. State Street Corp's holdings in Banco Bradesco were worth $42,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Banco Bradesco during the second quarter worth approximately $49,000. GAM Holding AG increased its holdings in shares of Banco Bradesco by 33.3% during the 2nd quarter. GAM Holding AG now owns 100,000 shares of the bank's stock worth $224,000 after acquiring an additional 25,000 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in Banco Bradesco by 67.3% during the 2nd quarter. Atomi Financial Group Inc. now owns 89,818 shares of the bank's stock valued at $201,000 after purchasing an additional 36,125 shares during the last quarter. Banco Santander S.A. lifted its holdings in Banco Bradesco by 50.5% during the 2nd quarter. Banco Santander S.A. now owns 2,547,166 shares of the bank's stock valued at $5,706,000 after purchasing an additional 854,212 shares during the last quarter. Finally, Candriam S.C.A. bought a new position in Banco Bradesco during the second quarter worth $115,000.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lowered shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th.

Banco Bradesco Stock Performance

Shares of NYSE BBD traded up $0.05 during trading hours on Friday, reaching $1.93. 31,399,256 shares of the stock were exchanged, compared to its average volume of 23,555,361. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 7.42, a P/E/G ratio of 0.32 and a beta of 0.94. The stock's fifty day simple moving average is $2.34 and its 200 day simple moving average is $2.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco S.A. has a 52 week low of $1.84 and a 52 week high of $3.58.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $5.62 billion. Sell-side analysts predict that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.0033 dividend. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 annualized dividend and a yield of 2.05%. Banco Bradesco's payout ratio is 7.69%.

About Banco Bradesco

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.