Moerus Capital Management LLC Purchases Shares of 12,274,580 Banco Bradesco SA $BBD

Key Points

• Moerus Capital Management LLC has made a new investment of approximately $27.37 million in Banco Bradesco SA, acquiring 12,274,580 shares, which accounts for about 12.2% of its investment portfolio.
• Banco Bradesco recently saw several upgrades from research firms, with Bank of America and Citigroup upgrading their ratings to "buy."
• The bank declared a dividend of $0.0023 per share, a significant increase from its previous dividend of $0.00, representing a yield of 99.0%.

Moerus Capital Management LLC acquired a new stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,274,580 shares of the bank's stock, valued at approximately $27,372,000. Banco Bradesco makes up 12.2% of Moerus Capital Management LLC's investment portfolio, making the stock its 5th biggest holding. Moerus Capital Management LLC owned 0.12% of Banco Bradesco at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its stake in Banco Bradesco by 11.4% during the 4th quarter. Northern Trust Corp now owns 4,117,017 shares of the bank's stock valued at $7,864,000 after purchasing an additional 421,994 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Banco Bradesco by 431.3% during the 4th quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock valued at $13,762,000 after purchasing an additional 5,848,994 shares in the last quarter. Wells Fargo & Company MN increased its stake in Banco Bradesco by 10,645.5% during the 4th quarter. Wells Fargo & Company MN now owns 332,143 shares of the bank's stock valued at $634,000 after purchasing an additional 329,052 shares in the last quarter. Bessemer Group Inc. increased its stake in Banco Bradesco by 14.3% during the 1st quarter. Bessemer Group Inc. now owns 5,052,355 shares of the bank's stock valued at $11,266,000 after purchasing an additional 632,647 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Banco Bradesco by 263.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank's stock valued at $111,000 after purchasing an additional 36,177 shares in the last quarter.

Banco Bradesco Stock Performance

NYSE BBD traded down $0.1350 during trading hours on Tuesday, hitting $2.8850. 15,730,814 shares of the company's stock traded hands, compared to its average volume of 41,846,434. The business's fifty day moving average price is $2.94 and its two-hundred day moving average price is $2.55. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $30.70 billion, a P/E ratio of 8.24, a P/E/G ratio of 0.41 and a beta of 0.68. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.13.

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

Banco Bradesco Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, September 11th. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.0023 per share. This is an increase from Banco Bradesco's previous dividend of $0.00. This represents a yield of 99.0%. The ex-dividend date of this dividend is Tuesday, August 5th. Banco Bradesco's payout ratio is presently 8.57%.

Analyst Ratings Changes

A number of research firms have weighed in on BBD. 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 equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.