Raymond James Financial Inc. Invests $3.22 Million in Banco Bradesco S.A. (NYSE:BBD)

Raymond James Financial Inc. purchased a new stake in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,686,735 shares of the bank's stock, valued at approximately $3,222,000.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Banco Bradesco in the 4th quarter valued at $30,000. Traveka Wealth LLC acquired a new stake in shares of Banco Bradesco in the fourth quarter valued at about $31,000. Peapack Gladstone Financial Corp grew its stake in shares of Banco Bradesco by 54.5% in the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock valued at $32,000 after buying an additional 6,000 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Banco Bradesco by 78.2% during the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after buying an additional 8,801 shares during the period. Finally, HighTower Advisors LLC lifted its position in Banco Bradesco by 27.2% during the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after acquiring an additional 5,421 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BBD shares. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price objective for the company in a research report on Monday, January 13th. The Goldman Sachs Group lowered shares of Banco Bradesco from a "buy" rating to a "sell" rating and cut their price objective for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th.

Banco Bradesco Stock Up 0.2 %

Shares of Banco Bradesco stock traded up $0.01 on Friday, hitting $2.43. 4,965,952 shares of the company's stock traded hands, compared to its average volume of 32,175,299. Banco Bradesco S.A. has a 52-week low of $1.84 and a 52-week high of $2.96. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The stock has a market cap of $25.81 billion, a P/E ratio of 8.12, a PEG ratio of 0.32 and a beta of 0.56. The firm's 50-day moving average is $2.18 and its 200 day moving average is $2.17.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Equities analysts anticipate that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.0022 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a dividend yield of 1.08%. Banco Bradesco's payout ratio is 6.67%.

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.