Banco Bradesco SA $BBD Shares Bought by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda lifted its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 49.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,842,473 shares of the bank’s stock after buying an additional 1,939,528 shares during the quarter. Banco Bradesco makes up approximately 1.6% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 17th largest position. SPX Gestao de Recursos Ltda owned approximately 0.05% of Banco Bradesco worth $19,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in Banco Bradesco by 0.3% in the 3rd quarter. Fisher Asset Management LLC now owns 88,405,292 shares of the bank’s stock worth $298,810,000 after acquiring an additional 306,617 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in Banco Bradesco during the second quarter valued at $250,398,000. Franklin Resources Inc. grew its position in shares of Banco Bradesco by 1.9% in the second quarter. Franklin Resources Inc. now owns 48,199,044 shares of the bank’s stock valued at $148,935,000 after purchasing an additional 907,612 shares during the period. Itau Unibanco Holding S.A. grew its position in shares of Banco Bradesco by 34.0% in the second quarter. Itau Unibanco Holding S.A. now owns 35,204,316 shares of the bank’s stock valued at $108,781,000 after purchasing an additional 8,938,200 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after purchasing an additional 17,853,712 shares in the last quarter.

Banco Bradesco Stock Performance

Shares of BBD opened at $3.68 on Friday. Banco Bradesco SA has a 52-week low of $1.95 and a 52-week high of $4.28. The firm’s fifty day moving average is $3.82 and its two-hundred day moving average is $3.50. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 2.68.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, February 6th. The bank reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.68 billion. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%. Equities analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 4th will be paid a $0.0036 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.2%. Banco Bradesco’s payout ratio is 7.69%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BBD shares. Itau BBA Securities restated an “outperform” rating on shares of Banco Bradesco in a research report on Friday, February 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Banco Bradesco has a consensus rating of “Buy”.

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.