Baillie Gifford & Co. Increases Stock Position in Banco Bradesco SA $BBD

Key Points

• Baillie Gifford & Co. raised its stake in Banco Bradesco by 36.8% in Q4, adding 10,301,395 shares to hold 38,275,506 shares worth about $127.46 million.
• Banco Bradesco declared a new monthly dividend of $0.0037 (ex-dividend May 6, payable June 8), implying a 1.1% yield and a dividend payout ratio of 110.26%.
• The bank reported Q4 EPS of $0.11 (in line) but revenue of $5.52 billion below estimates, has a market cap of about $43.4 billion and a PE of 10.5, and carries an average analyst rating of “Moderate Buy” (three Buys, one Hold).

Baillie Gifford & Co. raised its holdings in Banco Bradesco SA (NYSE:BBD - Free Report) by 36.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,275,506 shares of the bank's stock after purchasing an additional 10,301,395 shares during the quarter. Baillie Gifford & Co.'s holdings in Banco Bradesco were worth $127,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Banco Bradesco by 100.5% in the 2nd 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 in the last quarter. Brooklyn Investment Group increased its holdings 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 purchasing an additional 9,842 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Banco Bradesco by 40.1% in the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank's stock valued at $42,000 after purchasing an additional 3,619 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Banco Bradesco in the 2nd quarter valued at about $42,000. Finally, Ausdal Financial Partners Inc. purchased a new position in shares of Banco Bradesco in the 3rd quarter valued at about $47,000.

Banco Bradesco Trading Up 1.6%

NYSE:BBD opened at $4.10 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. Banco Bradesco SA has a 52-week low of $2.16 and a 52-week high of $4.28. The stock has a fifty day simple moving average of $3.84 and a 200-day simple moving average of $3.60. The company has a market capitalization of $43.39 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The bank reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%.The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $6.68 billion. On average, equities research analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 8th. Stockholders of record on Wednesday, May 6th will be given a $0.0037 dividend. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, May 6th. Banco Bradesco's dividend payout ratio (DPR) is currently 110.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BBD shares. Itau BBA Securities reiterated an "outperform" rating on shares of Banco Bradesco in a report on Friday, February 27th. Weiss Ratings downgraded shares of Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Banco Bradesco Profile

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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