Bank of America Corp DE Boosts Position in Banco Bradesco SA $BBD

Key Points

• Bank of America significantly increased its Banco Bradesco stake by 355.9% in the first quarter, purchasing 21.9 million additional shares and bringing its holdings to 28.1 million shares valued at approximately $102.5 million.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus despite Weiss Ratings downgrading it from “buy” to “hold.”
• Banco Bradesco reported quarterly earnings of $0.12 per share on $6.77 billion in revenue and declared a monthly dividend of $0.0037 per share, representing a 1.3% annualized yield.

Bank of America Corp DE raised its stake in Banco Bradesco SA (NYSE:BBD - Free Report) by 355.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,078,599 shares of the bank's stock after purchasing an additional 21,920,074 shares during the period. Bank of America Corp DE owned 0.26% of Banco Bradesco worth $102,487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its position in Banco Bradesco by 11.4% in the 4th quarter. Inspire Investing LLC now owns 25,331 shares of the bank's stock worth $84,000 after buying an additional 2,597 shares in the last quarter. Compound Planning Inc. grew its holdings in shares of Banco Bradesco by 2.1% during the 1st quarter. Compound Planning Inc. now owns 158,680 shares of the bank's stock valued at $579,000 after acquiring an additional 3,247 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Banco Bradesco by 8.8% in the second quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank's stock worth $130,000 after acquiring an additional 3,402 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Banco Bradesco by 16.7% in the first quarter. Cetera Investment Advisers now owns 24,543 shares of the bank's stock worth $90,000 after acquiring an additional 3,519 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Banco Bradesco by 59.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 9,784 shares of the bank's stock worth $33,000 after acquiring an additional 3,648 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $3.37 on Friday. The business has a 50 day moving average price of $3.49 and a 200 day moving average price of $3.71. Banco Bradesco SA has a twelve month low of $2.84 and a twelve month high of $4.30. The company has a market cap of $35.66 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 0.42 and a beta of 0.53. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.17.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a return on equity of 14.97% and a net margin of 10.55%.The company had revenue of $6.77 billion during the quarter. Research analysts predict that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 5th will be paid a $0.0037 dividend. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco's dividend payout ratio (DPR) is presently 7.69%.

Banco Bradesco Company 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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