Banco Bradesco SA $BBD Shares Purchased 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 boosted its holdings in Banco Bradesco SA (NYSE:BBD - Free Report) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,701,855 shares of the bank's stock after buying an additional 584,838 shares during the quarter. Northern Trust Corp's holdings in Banco Bradesco were worth $10,485,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. ARGA Investment Management LP increased its holdings in Banco Bradesco by 53.0% in the first quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock valued at $282,595,000 after buying an additional 43,884,334 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Banco Bradesco by 3.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 103,749,417 shares of the bank's stock valued at $231,361,000 after buying an additional 3,547,203 shares during the last quarter. Moerus Capital Management LLC purchased a new position in Banco Bradesco in the first quarter valued at $27,372,000. Natixis Advisors LLC increased its holdings in Banco Bradesco by 148.2% in the first quarter. Natixis Advisors LLC now owns 9,331,197 shares of the bank's stock valued at $20,809,000 after buying an additional 5,572,096 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Banco Bradesco by 431.3% in the fourth quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock valued at $13,762,000 after buying an additional 5,848,994 shares during the last quarter.

Banco Bradesco Stock Performance

NYSE BBD traded up $0.04 during trading hours on Thursday, hitting $3.16. The company had a trading volume of 38,748,662 shares, compared to its average volume of 29,614,522. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. Banco Bradesco SA has a 1-year low of $1.84 and a 1-year high of $3.24. The company has a market cap of $33.63 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76. The business has a 50 day moving average of $2.95 and a 200-day moving average of $2.66.

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

Banco Bradesco Increases Dividend

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

Analyst Ratings Changes

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

Banco Bradesco 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.