Waldron Private Wealth LLC Acquires Shares of 13,609 Banco Bradesco S.A. (NYSE:BBD)

Waldron Private Wealth LLC bought a new position in shares of Banco Bradesco S.A. (NYSE:BBD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,609 shares of the bank’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its position in Banco Bradesco by 48.4% during the 1st quarter. BlackRock Inc. now owns 72,108,265 shares of the bank’s stock worth $188,924,000 after buying an additional 23,517,670 shares in the last quarter. Causeway Capital Management LLC grew its stake in shares of Banco Bradesco by 43.4% during the third quarter. Causeway Capital Management LLC now owns 64,072,052 shares of the bank’s stock valued at $182,605,000 after purchasing an additional 19,404,902 shares during the last quarter. Oaktree Capital Management LP increased its holdings in shares of Banco Bradesco by 3.0% in the third quarter. Oaktree Capital Management LP now owns 31,742,126 shares of the bank’s stock valued at $90,465,000 after purchasing an additional 926,807 shares in the last quarter. Macquarie Group Ltd. raised its position in Banco Bradesco by 7.7% in the 1st quarter. Macquarie Group Ltd. now owns 24,224,185 shares of the bank’s stock worth $63,467,000 after purchasing an additional 1,732,700 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Banco Bradesco by 35.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,319,038 shares of the bank’s stock worth $60,759,000 after buying an additional 5,624,225 shares in the last quarter.

Wall Street Analysts Forecast Growth

BBD has been the subject of several research reports. HSBC cut Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price objective for the company in a report on Tuesday, February 20th. Finally, Jefferies Financial Group downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Banco Bradesco Price Performance

NYSE:BBD opened at $2.65 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. Banco Bradesco S.A. has a 12-month low of $2.61 and a 12-month high of $3.68. The stock’s fifty day simple moving average is $2.81 and its 200-day simple moving average is $3.04.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 3rd will be issued a dividend of $0.0038 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Tuesday, April 2nd. Banco Bradesco’s dividend payout ratio (DPR) is currently 14.29%.

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.