Fisher Asset Management LLC Raises Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Fisher Asset Management LLC boosted its holdings in Banco Bradesco S.A. (NYSE:BBD) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,833,254 shares of the bank’s stock after purchasing an additional 12,228,662 shares during the quarter. Fisher Asset Management LLC’s holdings in Banco Bradesco were worth $201,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBD. Silvercrest Asset Management Group LLC raised its position in Banco Bradesco by 27.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after purchasing an additional 4,550 shares during the last quarter. Jane Street Group LLC raised its position in Banco Bradesco by 405.8% in the 1st quarter. Jane Street Group LLC now owns 1,669,232 shares of the bank’s stock valued at $4,774,000 after purchasing an additional 1,339,244 shares during the last quarter. iA Global Asset Management Inc. increased its stake in Banco Bradesco by 12.0% in the 1st quarter. iA Global Asset Management Inc. now owns 164,250 shares of the bank’s stock valued at $470,000 after buying an additional 17,634 shares during the period. Algebris UK Ltd acquired a new position in Banco Bradesco in the 1st quarter valued at $7,075,000. Finally, Boston Partners acquired a new position in Banco Bradesco in the 1st quarter valued at $681,000.

Analyst Upgrades and Downgrades

BBD has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday. The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Stock Down 1.3 %

NYSE:BBD opened at $2.35 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The firm’s fifty day simple moving average is $2.56 and its 200-day simple moving average is $2.53.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Sell-side analysts predict that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.0033 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.69%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio is presently 11.54%.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.