Banco Bradesco SA $BBD Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC grew its holdings in Banco Bradesco SA (NYSE:BBD) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,405,292 shares of the bank’s stock after buying an additional 306,617 shares during the quarter. Fisher Asset Management LLC’s holdings in Banco Bradesco were worth $298,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BBD. Orbis Allan Gray Ltd purchased a new position in Banco Bradesco during the second quarter valued at $250,398,000. Franklin Resources Inc. raised its position in shares of Banco Bradesco by 1.9% during the 2nd quarter. Franklin Resources Inc. now owns 48,199,044 shares of the bank’s stock worth $148,935,000 after purchasing an additional 907,612 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in 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. Goldman Sachs Group Inc. lifted its stake in Banco Bradesco by 116.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after buying an additional 17,853,712 shares in the last quarter. Finally, Amundi boosted its holdings in Banco Bradesco by 131.4% in the 2nd quarter. Amundi now owns 14,534,363 shares of the bank’s stock worth $44,184,000 after buying an additional 8,253,601 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BBD. Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. Itau BBA Securities restated an “outperform” rating on shares of Banco Bradesco in a report on Friday. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Banco Bradesco currently has an average rating of “Buy”.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock opened at $4.09 on Tuesday. The stock has a 50 day moving average of $3.78 and a 200 day moving average of $3.48. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. Banco Bradesco SA has a fifty-two week low of $1.93 and a fifty-two week high of $4.28.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Friday, February 6th. The bank reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.68 billion. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. As a group, sell-side analysts forecast that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.0036 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, March 4th. Banco Bradesco’s dividend payout ratio is currently 7.69%.

About Banco Bradesco

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.