Bamco Inc. NY Invests $25.34 Million in Banco Bradesco SA $BBD

Key Points

• Bamco Inc. NY acquired 7.3 million Banco Bradesco shares worth approximately $25.34 million during the second quarter, giving it a 0.07% stake.
• Institutional interest increased broadly, with Bank of America raising its holdings by 355.9% and Amundi increasing its position by 20%.
• Banco Bradesco reported quarterly EPS of $0.12 on $6.77 billion in revenue and announced a monthly dividend of $0.0037, while Weiss Ratings downgraded the stock from “buy” to “hold.”

Bamco Inc. NY bought a new position in Banco Bradesco SA (NYSE:BBD - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 7,302,361 shares of the bank's stock, valued at approximately $25,339,000. Bamco Inc. NY owned 0.07% of Banco Bradesco as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in Banco Bradesco in the second quarter worth about $40,000. Matters Capital LLC purchased a new stake in shares of Banco Bradesco in the second quarter worth about $95,000. Global Wealth Strategies & Associates bought a new position in shares of Banco Bradesco during the 2nd quarter valued at approximately $38,000. Bank of America Corp DE lifted its holdings in shares of Banco Bradesco by 355.9% in the 1st quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank's stock valued at $102,487,000 after acquiring an additional 21,920,074 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Banco Bradesco by 20.0% in the 1st quarter. Amundi now owns 24,583,083 shares of the bank's stock worth $89,728,000 after purchasing an additional 4,099,099 shares during the period.

Analysts Set New Price Targets

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

Banco Bradesco Price Performance

Shares of BBD opened at $3.27 on Thursday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $34.65 billion, a PE ratio of 7.79, a PEG ratio of 0.40 and a beta of 0.53. The company has a 50 day moving average price of $3.42 and a 200-day moving average price of $3.63. Banco Bradesco SA has a fifty-two week low of $2.95 and a fifty-two week high of $4.30.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $6.77 billion for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Equities analysts predict that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 3rd will be issued 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 yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 3rd. Banco Bradesco's dividend payout ratio is presently 7.14%.

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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