Massachusetts Financial Services Co. MA Has $294.37 Million Stock Position in Banco Bradesco SA $BBD

Massachusetts Financial Services Co. MA lessened its position in shares of Banco Bradesco SA (NYSE:BBD) by 5.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 87,091,195 shares of the bank’s stock after selling 4,830,611 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Banco Bradesco were worth $294,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of Banco Bradesco by 18.4% in the second quarter. Fisher Asset Management LLC now owns 88,098,675 shares of the bank’s stock valued at $272,225,000 after purchasing an additional 13,682,255 shares in the last quarter. Orbis Allan Gray Ltd bought a new stake in Banco Bradesco in the 2nd quarter valued at $250,398,000. Franklin Resources Inc. increased its holdings in Banco Bradesco by 1.9% in the 2nd quarter. Franklin Resources Inc. now owns 48,199,044 shares of the bank’s stock valued at $148,935,000 after buying an additional 907,612 shares during the period. Itau Unibanco Holding S.A. raised its stake in shares of Banco Bradesco by 34.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 35,204,316 shares of the bank’s stock valued at $108,781,000 after buying an additional 8,938,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Banco Bradesco by 116.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after acquiring an additional 17,853,712 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2.00.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $3.53 on Monday. The stock has a fifty day moving average price of $3.47 and a two-hundred day moving average price of $3.24. Banco Bradesco SA has a 52-week low of $1.92 and a 52-week high of $3.77. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 30th. The bank reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $34.75 billion. Banco Bradesco had a return on equity of 12.95% and a net margin of 9.61%. On average, equities research analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Wednesday, February 4th will be paid a $0.0035 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, February 4th. Banco Bradesco’s dividend payout ratio is presently 8.57%.

Banco Bradesco Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.