Wellington Management Group LLP Boosts Stake in Banco Bradesco S.A. (NYSE:BBD)

Wellington Management Group LLP lifted its stake in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 15.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,046,779 shares of the bank's stock after buying an additional 6,171,193 shares during the period. Wellington Management Group LLP's holdings in Banco Bradesco were worth $125,144,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in Banco Bradesco by 170.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank's stock worth $233,988,000 after buying an additional 55,444,555 shares during the period. Fisher Asset Management LLC boosted its holdings in Banco Bradesco by 19.2% in the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank's stock valued at $201,716,000 after acquiring an additional 12,228,662 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Banco Bradesco during the 3rd quarter valued at approximately $104,542,000. Itau Unibanco Holding S.A. increased its position in Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank's stock valued at $100,061,000 after purchasing an additional 13,627,768 shares during the period. Finally, ARGA Investment Management LP lifted its position in shares of Banco Bradesco by 3.6% in the 3rd quarter. ARGA Investment Management LP now owns 26,287,136 shares of the bank's stock worth $69,924,000 after purchasing an additional 924,065 shares during the period.

Banco Bradesco Stock Up 4.0 %

Shares of NYSE BBD traded up $0.08 during midday trading on Tuesday, hitting $2.09. 51,788,109 shares of the stock traded hands, compared to its average volume of 22,871,643. 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 one year low of $2.01 and a one year high of $3.65. The business has a 50 day moving average price of $2.45 and a two-hundred day moving average price of $2.49. The company has a market cap of $22.28 billion, a PE ratio of 8.04, a P/E/G ratio of 0.24 and a beta of 0.94.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. On average, equities analysts predict that Banco Bradesco S.A. will post 0.34 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.90%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is 11.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BBD shares. The Goldman Sachs Group raised Banco Bradesco from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $2.50 to $3.20 in a research note on Monday, August 19th. JPMorgan Chase & Co. cut Banco Bradesco from an "overweight" rating to a "neutral" rating in a report on Monday, November 25th.

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.