Brandes Investment Partners LP Purchases 41,743 Shares of Banco Bradesco SA (BBD)
Brandes Investment Partners LP boosted its position in Banco Bradesco SA (NYSE:BBD) by 13.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,518 shares of the bank’s stock after buying an additional 41,743 shares during the period. Brandes Investment Partners LP’s holdings in Banco Bradesco SA were worth $3,056,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors raised its position in shares of Banco Bradesco SA by 1,607.6% in the first quarter. Nationwide Fund Advisors now owns 635,452 shares of the bank’s stock worth $6,507,000 after buying an additional 598,238 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Banco Bradesco SA by 21.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 315,854 shares of the bank’s stock worth $3,235,000 after buying an additional 56,156 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in shares of Banco Bradesco SA by 191.0% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 70,958 shares of the bank’s stock worth $727,000 after buying an additional 46,571 shares during the period. Eqis Capital Management Inc. purchased a new position in shares of Banco Bradesco SA during the first quarter worth $197,000. Finally, Henderson Group PLC raised its position in shares of Banco Bradesco SA by 74.8% in the first quarter. Henderson Group PLC now owns 852,760 shares of the bank’s stock worth $8,737,000 after buying an additional 364,806 shares during the period. Institutional investors own 2.65% of the company’s stock.
Banco Bradesco SA (NYSE BBD) opened at 10.89 on Friday. Banco Bradesco SA has a 52 week low of $7.15 and a 52 week high of $11.03. The stock’s 50 day moving average price is $9.99 and its 200-day moving average price is $9.31. The company has a market cap of $66.27 billion, a price-to-earnings ratio of 11.94 and a beta of 1.74.
The company also recently disclosed a special dividend, which will be paid on Thursday, October 12th. Investors of record on Thursday, September 7th will be paid a $0.006 dividend. This is an increase from Banco Bradesco SA’s previous special dividend of $0.01. The ex-dividend date is Wednesday, September 6th. This represents a yield of 0.65%. Banco Bradesco SA’s dividend payout ratio is presently 7.86%.
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BBD has been the topic of a number of recent research reports. Zacks Investment Research lowered Banco Bradesco SA from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. ValuEngine upgraded Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. BidaskClub lowered Banco Bradesco SA from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Scotiabank upgraded Banco Bradesco SA from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Banco Bradesco SA presently has an average rating of “Buy” and an average target price of $10.65.
About Banco Bradesco SA
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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