Banco Bradesco SA $BBD Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Banco Bradesco SA by 14.2%, acquiring an additional 584,838 shares, bringing its total holdings to 4,701,855 shares valued at approximately $10.5 million.
• Banco Bradesco recently declared a monthly dividend of $0.0035 per share, reflecting an annualized yield of 1.3%, which is a boost from its previous dividend of $0.00.
• Citigroup upgraded Banco Bradesco's stock rating from "hold" to "buy," and analysts have a consensus rating of "hold" with an average price target of $2.40.

Northern Trust Corp grew its stake in Banco Bradesco SA (NYSE:BBD - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,701,855 shares of the bank's stock after purchasing an additional 584,838 shares during the quarter. Northern Trust Corp's holdings in Banco Bradesco were worth $10,485,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BBD. Simplicity Wealth LLC acquired a new stake in shares of Banco Bradesco in the first quarter valued at about $26,000. BSW Wealth Partners acquired a new position in Banco Bradesco during the first quarter worth about $29,000. Merit Financial Group LLC acquired a new position in Banco Bradesco during the first quarter worth about $37,000. Stifel Financial Corp acquired a new position in Banco Bradesco during the fourth quarter worth about $39,000. Finally, Sagespring Wealth Partners LLC acquired a new position in Banco Bradesco during the first quarter worth about $41,000.

Banco Bradesco Price Performance

Shares of BBD stock opened at $3.18 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. The firm's 50-day moving average is $2.94 and its two-hundred day moving average is $2.63. Banco Bradesco SA has a 12 month low of $1.84 and a 12 month high of $3.24. The company has a market capitalization of $33.79 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.42 and a beta of 0.76.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. Analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.0035 per share. This represents a c) dividend on an annualized basis and a yield of 1.3%. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, September 3rd. Banco Bradesco's payout ratio is presently 8.57%.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $2.40.

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.

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