BlackRock Advisors LLC boosted its stake in Banco Bradesco SA (NYSE:BBD) by 17.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,650,000 shares of the company’s stock after buying an additional 250,000 shares during the period. BlackRock Advisors LLC’s holdings in Banco Bradesco SA were worth $12,887,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of Banco Bradesco SA by 3.9% in the first quarter. BlackRock Fund Advisors now owns 5,295,094 shares of the company’s stock valued at $39,448,000 after buying an additional 196,924 shares during the period. Sprucegrove Investment Management Ltd. increased its stake in shares of Banco Bradesco SA by 10.4% in the second quarter. Sprucegrove Investment Management Ltd. now owns 20,046,674 shares of the company’s stock valued at $156,565,000 after buying an additional 1,896,514 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Banco Bradesco SA by 12.7% in the second quarter. Eqis Capital Management Inc. now owns 37,913 shares of the company’s stock valued at $296,000 after buying an additional 4,269 shares during the period. Brandes Investment Partners LP increased its stake in shares of Banco Bradesco SA by 29.9% in the second quarter. Brandes Investment Partners LP now owns 327,133 shares of the company’s stock valued at $2,555,000 after buying an additional 75,250 shares during the period. Finally, Societe Generale bought a new stake in shares of Banco Bradesco SA during the second quarter valued at approximately $6,227,000. Hedge funds and other institutional investors own 4.36% of the company’s stock.
Shares of Banco Bradesco SA (NYSE:BBD) opened at 9.42 on Thursday. Banco Bradesco SA has a 12-month low of $3.65 and a 12-month high of $9.47. The stock has a 50 day moving average of $8.94 and a 200-day moving average of $7.90. The firm has a market capitalization of $52.11 billion, a P/E ratio of 9.55 and a beta of 1.96.
Banco Bradesco SA (NYSE:BBD) last announced its earnings results on Thursday, July 28th. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a return on equity of 18.51% and a net margin of 11.75%. On average, equities research analysts predict that Banco Bradesco SA will post ($0.15) EPS for the current fiscal year.
The business also recently announced a dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, October 5th will be issued a $0.162 dividend. The ex-dividend date is Monday, October 3rd. This is a boost from Banco Bradesco SA’s previous dividend of $0.01. Banco Bradesco SA’s dividend payout ratio is presently 7.33%.
BBD has been the topic of several research analyst reports. Credit Suisse Group AG upgraded shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a report on Thursday, July 14th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $9.30 target price on shares of Banco Bradesco SA in a report on Wednesday, September 21st. Finally, JPMorgan Chase & Co. downgraded shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $8.65.
About Banco Bradesco SA
Banco Bradesco SA is a multiple service bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid‑sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.
Receive News & Ratings for Banco Bradesco SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco SA and related companies with MarketBeat.com's FREE daily email newsletter.