Banco Bradesco SA $BBD Stock Position Lifted by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its holdings in Banco Bradesco SA by 355.7%, acquiring an additional 231,596 shares, bringing their total to 296,708 shares valued at approximately $662,000.
• Banco Bradesco announced a new monthly dividend of $0.0035 per share, marking a positive increase from a previous dividend of $0.00, and representing a 1.3% annualized yield.
• Citigroup upgraded Banco Bradesco from a "hold" to a "buy" rating, with analysts setting a consensus price target of $2.40 for the stock.

Vident Advisory LLC grew its stake in Banco Bradesco SA (NYSE:BBD - Free Report) by 355.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,708 shares of the bank's stock after acquiring an additional 231,596 shares during the quarter. Vident Advisory LLC's holdings in Banco Bradesco were worth $662,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BBD. Stifel Financial Corp purchased a new position in Banco Bradesco during the fourth quarter worth about $39,000. Northern Trust Corp lifted its position in Banco Bradesco by 11.4% during the fourth quarter. Northern Trust Corp now owns 4,117,017 shares of the bank's stock worth $7,864,000 after buying an additional 421,994 shares during the period. AQR Capital Management LLC lifted its position in Banco Bradesco by 107.0% during the fourth quarter. AQR Capital Management LLC now owns 2,870,010 shares of the bank's stock worth $5,482,000 after buying an additional 1,483,783 shares during the period. BNP Paribas Financial Markets lifted its position in Banco Bradesco by 431.3% during the fourth quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock worth $13,762,000 after buying an additional 5,848,994 shares during the period. Finally, Bayesian Capital Management LP lifted its position in Banco Bradesco by 67.6% during the fourth quarter. Bayesian Capital Management LP now owns 39,400 shares of the bank's stock worth $75,000 after buying an additional 15,885 shares during the period.

Banco Bradesco Trading Up 1.3%

NYSE:BBD traded up $0.04 on Thursday, hitting $3.16. 38,748,662 shares of the stock were exchanged, compared to its average volume of 29,614,522. The stock has a market cap of $33.63 billion, a PE ratio of 9.03, a PEG ratio of 0.43 and a beta of 0.76. 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 stock has a fifty day moving average of $2.95 and a 200-day moving average of $2.66. Banco Bradesco SA has a fifty-two week low of $1.84 and a fifty-two week high of $3.24.

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

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.0035 per share. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date is Wednesday, September 3rd. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco's payout ratio is 8.57%.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Banco Bradesco currently has a consensus rating of "Hold" and an average target price of $2.40.

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.