Banco Bradesco SA $BBD Shares Acquired by Perpetual Ltd

Perpetual Ltd boosted its stake in Banco Bradesco SA (NYSE:BBD) by 67.5% during the third quarter, Holdings Channel.com reports. The fund owned 3,900,023 shares of the bank’s stock after purchasing an additional 1,571,561 shares during the quarter. Perpetual Ltd’s holdings in Banco Bradesco were worth $13,182,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aprio Wealth Management LLC purchased a new position in Banco Bradesco during the first quarter valued at $25,000. GAMMA Investing LLC raised its position in shares of Banco Bradesco by 92.7% during the 2nd quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock worth $25,000 after purchasing an additional 3,864 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in Banco Bradesco in the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its holdings in Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after buying an additional 4,353 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Banco Bradesco during the 2nd quarter worth approximately $42,000.

Banco Bradesco Stock Up 0.8%

Shares of NYSE BBD opened at $3.35 on Friday. The stock has a market cap of $35.60 billion, a PE ratio of 9.56, a P/E/G ratio of 0.37 and a beta of 0.57. 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 SA has a 12-month low of $1.85 and a 12-month high of $3.77. The company has a 50-day moving average of $3.46 and a 200 day moving average of $3.18.

Banco Bradesco (NYSE:BBD) last released its earnings results on Thursday, October 30th. The bank reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $34.75 billion. Banco Bradesco had a return on equity of 12.95% and a net margin of 9.61%. As a group, sell-side analysts predict that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.0035 per share. This represents a c) dividend on an annualized basis and a yield of 1.3%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 3rd. Banco Bradesco’s dividend payout ratio is presently 8.57%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2.40.

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.