Amundi Purchases 4,099,099 Shares of Banco Bradesco SA $BBD

Amundi raised its position in Banco Bradesco SA (NYSE:BBD - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,583,083 shares of the bank's stock after acquiring an additional 4,099,099 shares during the period. Amundi owned about 0.23% of Banco Bradesco worth $89,728,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Banco Bradesco by 100.5% during the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank's stock valued at $27,000 after purchasing an additional 4,353 shares during the period. Brooklyn Investment Group raised its stake in shares of Banco Bradesco by 1,276.5% in the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank's stock valued at $36,000 after buying an additional 9,842 shares in the last quarter. Checchi Capital Advisers LLC bought a new position in shares of Banco Bradesco during the 4th quarter worth about $39,000. Ballentine Partners LLC acquired a new stake in shares of Banco Bradesco during the 4th quarter valued at about $41,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Banco Bradesco during the 2nd quarter valued at about $42,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Banco Bradesco currently has an average rating of "Moderate Buy".

Banco Bradesco Stock Performance

Banco Bradesco stock opened at $3.60 on Friday. The firm has a market capitalization of $38.10 billion, a P/E ratio of 9.22, a P/E/G ratio of 0.45 and a beta of 0.53. The stock has a fifty day moving average price of $3.49 and a two-hundred day moving average price of $3.71. Banco Bradesco SA has a 52-week low of $2.73 and a 52-week high of $4.30. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. The company had revenue of $1.50 billion for the quarter. As a group, analysts anticipate that Banco Bradesco SA will post 0.5 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.0037 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a c) annualized dividend and a dividend yield of 1.2%. Banco Bradesco's dividend payout ratio (DPR) is presently 20.51%.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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