Banco Bradesco S.A. (NYSE:BBD) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,925,569 shares of the bank’s stock after buying an additional 251,998 shares during the period. Vontobel Holding Ltd.’s holdings in Banco Bradesco were worth $5,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Banco Bradesco by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock valued at $120,122,000 after buying an additional 1,139,470 shares in the last quarter. State Street Corp increased its position in Banco Bradesco by 71.0% during the 3rd quarter. State Street Corp now owns 15,778,647 shares of the bank’s stock valued at $42,715,000 after buying an additional 6,551,698 shares in the last quarter. DAVENPORT & Co LLC acquired a new position in Banco Bradesco during the 4th quarter valued at about $66,000. JPMorgan Chase & Co. increased its position in Banco Bradesco by 152.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank’s stock valued at $731,000 after buying an additional 166,008 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Banco Bradesco by 4.4% in the fourth 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BBD. HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a report on Monday, January 13th. The Goldman Sachs Group lowered Banco Bradesco from a “buy” rating to a “sell” rating and cut their price objective for the company from $2.40 to $2.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $2.17 on Friday. The company has a market capitalization of $23.04 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.28 and a beta of 0.94. The business’s 50 day moving average is $2.00 and its two-hundred day moving average is $2.37. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a 12-month low of $1.84 and a 12-month high of $2.98.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Analysts expect that Banco Bradesco S.A. will post 0.33 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be given a $0.0033 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, March 7th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is 11.54%.

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.