Massachusetts Financial Services Co. MA increased its stake in Banco Bradesco SA (NYSE:BBD - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,749,417 shares of the bank's stock after buying an additional 3,547,203 shares during the period. Massachusetts Financial Services Co. MA owned about 0.97% of Banco Bradesco worth $231,361,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of BBD. ARGA Investment Management LP lifted 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 worth $282,595,000 after purchasing an additional 43,884,334 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Banco Bradesco by 26.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock valued at $97,079,000 after purchasing an additional 10,537,751 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Banco Bradesco by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock valued at $108,507,000 after purchasing an additional 9,762,964 shares during the period. Marshall Wace LLP increased its stake in Banco Bradesco by 45.4% in the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank's stock worth $52,988,000 after purchasing an additional 8,661,231 shares in the last quarter. Finally, Algebris UK Ltd purchased a new stake in Banco Bradesco during the fourth quarter valued at about $14,111,000.
Banco Bradesco Trading Down 1.5%
NYSE:BBD traded down $0.05 during trading hours on Wednesday, hitting $2.88. The stock had a trading volume of 24,363,192 shares, compared to its average volume of 37,154,469. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.76. Banco Bradesco SA has a one year low of $1.84 and a one year high of $3.13. The business's 50 day moving average is $2.91 and its 200-day moving average is $2.39. The company has a market cap of $30.60 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 0.42 and a beta of 0.71.
Banco Bradesco (NYSE:BBD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 12.33% and a net margin of 9.08%. The business had revenue of $5.69 billion for the quarter, compared to analyst estimates of $31.24 billion. Sell-side analysts anticipate that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.
Banco Bradesco Cuts Dividend
The company also recently announced a -- dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Wednesday, July 2nd will be given a $0.0351 dividend. This represents a dividend yield of 4.7%. The ex-dividend date is Wednesday, July 2nd. Banco Bradesco's payout ratio is presently 6.25%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on BBD shares. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.40.
View Our Latest Analysis on Banco Bradesco
About Banco Bradesco
(
Free Report)
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.
Recommended Stories
Before you consider Banco Bradesco, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Banco Bradesco wasn't on the list.
While Banco Bradesco currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
