Banco Bradesco SA (bbd) Increases Dividend to $0.01 Per Share
Banco Bradesco SA (NYSE:bbd) declared a dividend on Tuesday, September 20th. Shareholders of record on Thursday, October 6th will be given a dividend of 0.005 per share on Tuesday, November 8th. The ex-dividend date of this dividend is Tuesday, October 4th. This is an increase from Banco Bradesco SA’s previous dividend of $0.00.
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Credit Suisse Group AG upgraded shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a report on Thursday, July 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $4.91.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its stake in Banco Bradesco SA by 18.5% in the second quarter. BlackRock Group LTD now owns 16,608,040 shares of the company’s stock worth $129,709,000 after buying an additional 2,590,293 shares during the last quarter. State Street Corp raised its position in shares of Banco Bradesco SA by 17.1% in the second quarter. State Street Corp now owns 8,907,557 shares of the company’s stock valued at $69,565,000 after buying an additional 1,302,732 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Banco Bradesco SA by 26.7% in the second quarter. Parametric Portfolio Associates LLC now owns 5,614,680 shares of the company’s stock valued at $43,851,000 after buying an additional 1,183,942 shares in the last quarter. Capital International Investors raised its position in shares of Banco Bradesco SA by 10.0% in the second quarter. Capital International Investors now owns 12,108,052 shares of the company’s stock valued at $94,564,000 after buying an additional 1,100,732 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Banco Bradesco SA by 8.5% in the second quarter. AQR Capital Management LLC now owns 12,486,157 shares of the company’s stock valued at $97,517,000 after buying an additional 978,338 shares in the last quarter. 4.36% of the stock is owned by institutional investors and hedge funds.
Shares of Banco Bradesco SA (NYSE:BBD) opened at 8.68 on Wednesday. Banco Bradesco SA has a 12-month low of $3.65 and a 12-month high of $9.46. The company has a 50-day moving average of $8.90 and a 200 day moving average of $7.70. The firm has a market cap of $48.02 billion, a P/E ratio of 9.02 and a beta of 1.99.
Banco Bradesco SA (NYSE:BBD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. Equities research analysts anticipate that Banco Bradesco SA will post ($0.15) earnings per share for the current fiscal year.
About Banco Bradesco SA
Banco Bradesco SA is a multiple service bank. The Company 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. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.
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