Northern Trust Corp Has $7.86 Million Stake in Banco Bradesco S.A. (NYSE:BBD)

Northern Trust Corp lifted its stake in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,117,017 shares of the bank's stock after purchasing an additional 421,994 shares during the period. Northern Trust Corp's holdings in Banco Bradesco were worth $7,864,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Banco Bradesco by 152.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank's stock worth $731,000 after buying an additional 166,008 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Banco Bradesco in the 4th quarter valued at about $68,000. Blue Trust Inc. raised its stake in shares of Banco Bradesco by 78.2% in the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after purchasing an additional 8,801 shares during the period. R Squared Ltd acquired a new stake in shares of Banco Bradesco in the 4th quarter valued at about $30,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Banco Bradesco by 4.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,032,246 shares of the bank's stock valued at $5,792,000 after purchasing an additional 127,225 shares during the period.

Banco Bradesco Stock Performance

NYSE BBD traded up $0.05 during trading on Friday, reaching $2.81. 66,694,266 shares of the company's stock were exchanged, compared to its average volume of 34,400,303. The business has a 50 day moving average price of $2.37 and a 200-day moving average price of $2.18. The stock has a market capitalization of $29.85 billion, a P/E ratio of 9.35, a PEG ratio of 0.32 and a beta of 0.65. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. Banco Bradesco S.A. has a fifty-two week low of $1.84 and a fifty-two week high of $2.96.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The company had revenue of $5.69 billion during the quarter, compared to analysts' expectations of $31.24 billion. Sell-side analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 7th will be paid a $0.0022 dividend. This represents a dividend yield of 1.08%. The ex-dividend date is Tuesday, May 6th. Banco Bradesco's dividend payout ratio (DPR) is currently 6.25%.

Analysts Set New Price Targets

BBD has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded Banco Bradesco from a "buy" rating to a "sell" rating and lowered their target price for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Thursday, May 8th.

About Banco Bradesco

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.