Banco Bradesco SA (BBD) Position Raised by Lazard Asset Management LLC
Lazard Asset Management LLC boosted its stake in Banco Bradesco SA (NYSE:BBD) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 4,490,972 shares of the bank’s stock after acquiring an additional 128,795 shares during the period. Lazard Asset Management LLC’s holdings in Banco Bradesco were worth $45,986,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBD. Ameriprise Financial Inc. increased its holdings in Banco Bradesco by 17.9% in the second quarter. Ameriprise Financial Inc. now owns 75,591 shares of the bank’s stock valued at $643,000 after purchasing an additional 11,473 shares during the last quarter. Stifel Financial Corp increased its holdings in Banco Bradesco by 102.6% in the second quarter. Stifel Financial Corp now owns 21,830 shares of the bank’s stock valued at $186,000 after purchasing an additional 11,057 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Banco Bradesco in the third quarter valued at about $183,000. Nationwide Fund Advisors increased its holdings in Banco Bradesco by 39.3% in the third quarter. Nationwide Fund Advisors now owns 1,145,932 shares of the bank’s stock valued at $12,685,000 after purchasing an additional 323,185 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in Banco Bradesco by 7.5% in the third quarter. Aperio Group LLC now owns 893,427 shares of the bank’s stock valued at $9,890,000 after purchasing an additional 62,284 shares during the last quarter. Institutional investors and hedge funds own 2.80% of the company’s stock.
Banco Bradesco SA (NYSE BBD) opened at $11.97 on Friday. Banco Bradesco SA has a 52 week low of $7.83 and a 52 week high of $13.18. The stock has a market capitalization of $79,720.55, a PE ratio of 15.79 and a beta of 1.87.
The firm also recently announced a special dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Wednesday, April 4th will be paid a $0.0058 dividend. This is a boost from Banco Bradesco’s previous special dividend of $0.01. The ex-dividend date of this dividend is Tuesday, April 3rd. Banco Bradesco’s payout ratio is presently 7.91%.
A number of equities research analysts recently commented on BBD shares. Zacks Investment Research upgraded Banco Bradesco from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Citigroup upgraded Banco Bradesco from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Monday, January 22nd. Finally, ValuEngine upgraded Banco Bradesco from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.20.
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Banco Bradesco Company Profile
Banco Bradesco SA is a commercial bank. The Bank 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. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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