Wells Fargo & Company MN Has $634,000 Stake in Banco Bradesco S.A. (NYSE:BBD)

Wells Fargo & Company MN boosted its position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 10,645.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 332,143 shares of the bank's stock after purchasing an additional 329,052 shares during the period. Wells Fargo & Company MN's holdings in Banco Bradesco were worth $634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. R Squared Ltd acquired a new position in Banco Bradesco in the 4th quarter worth about $30,000. Traveka Wealth LLC acquired a new stake in Banco Bradesco in the fourth quarter valued at approximately $31,000. Blue Trust Inc. grew its position in Banco Bradesco by 78.2% in the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock worth $38,000 after acquiring an additional 8,801 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Banco Bradesco by 27.2% during the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after purchasing an additional 5,421 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its holdings in shares of Banco Bradesco by 135.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 27,675 shares of the bank's stock valued at $53,000 after purchasing an additional 15,911 shares in the last quarter.

Banco Bradesco Stock Performance

Shares of NYSE BBD traded down $0.05 during mid-day trading on Wednesday, hitting $2.31. The company had a trading volume of 22,639,067 shares, compared to its average volume of 32,355,549. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $2.96. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The firm has a market cap of $24.53 billion, a P/E ratio of 7.65, a PEG ratio of 0.32 and a beta of 0.65. The business's 50-day simple moving average is $2.20 and its 200-day simple moving average is $2.16.

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 (EPS) for the quarter, meeting 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, analysts predict that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 7th will be paid a dividend of $0.0022 per share. This represents a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, May 6th. Banco Bradesco's dividend payout ratio is 6.67%.

Analyst Ratings Changes

Several research firms have commented on BBD. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price on the stock in a research report on Monday, January 13th. The Goldman Sachs Group lowered Banco Bradesco from a "buy" rating to a "sell" rating and cut their price target for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th.

Banco Bradesco Company 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.