American Century Companies Inc. Raises Holdings in Banco Bradesco SA $BBD

Key Points

• American Century Companies Inc. increased its ownership in Banco Bradesco SA by 6.4%, acquiring an additional 351,829 shares in the first quarter, bringing its total shares to 5,865,375.
• Banco Bradesco announced a dividend increase to $0.0023 per share, representing a yield of 99.0%, with the payment scheduled for September 11th.
• Analysts have recently upgraded Banco Bradesco's stock rating, with Citigroup and Bank of America raising their ratings from "hold" to "buy", although the average rating remains a "hold".

American Century Companies Inc. lifted its stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,865,375 shares of the bank's stock after acquiring an additional 351,829 shares during the quarter. American Century Companies Inc. owned 0.06% of Banco Bradesco worth $13,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BBD. Simplicity Wealth LLC purchased a new position in Banco Bradesco in the first quarter valued at $26,000. BSW Wealth Partners purchased a new position in Banco Bradesco in the first quarter valued at $29,000. Merit Financial Group LLC purchased a new position in Banco Bradesco in the first quarter valued at $37,000. Stifel Financial Corp purchased a new position in Banco Bradesco in the fourth quarter valued at $39,000. Finally, Sagespring Wealth Partners LLC acquired a new position in Banco Bradesco in the first quarter valued at $41,000.

Banco Bradesco Stock Performance

NYSE:BBD traded down $0.01 during mid-day trading on Friday, reaching $3.10. The stock had a trading volume of 29,247,962 shares, compared to its average volume of 30,747,668. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $32.99 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.43 and a beta of 0.68. Banco Bradesco SA has a twelve month low of $1.84 and a twelve month high of $3.13. The business has a 50 day simple moving average of $2.94 and a 200 day simple moving average of $2.60.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $32.70 billion. On average, 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 declared a monthly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.0035 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. This is a positive change from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is 8.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BBD shares. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Bank of America upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.