UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Makes New Investment in Banco Bradesco S.A. (NYSE:BBD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Banco Bradesco S.A. (NYSE:BBD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 39,301,345 shares of the bank’s stock, valued at approximately $104,542,000.

Several other hedge funds have also made changes to their positions in the company. Inspire Advisors LLC raised its holdings in shares of Banco Bradesco by 9.5% in the second quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock valued at $123,000 after acquiring an additional 4,737 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after purchasing an additional 5,623 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Banco Bradesco by 1.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock worth $1,605,000 after purchasing an additional 8,000 shares during the period. Simplicity Wealth LLC increased its holdings in Banco Bradesco by 11.9% during the second quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock valued at $173,000 after buying an additional 8,165 shares during the period. Finally, Atria Investments Inc raised its stake in Banco Bradesco by 24.3% in the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after buying an additional 8,641 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BBD. The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and increased their target price for the company from $2.50 to $3.20 in a research report on Monday, August 19th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

Banco Bradesco Price Performance

Shares of BBD opened at $2.13 on Monday. The company has a 50 day moving average of $2.52 and a two-hundred day moving average of $2.52. 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 twelve month low of $2.02 and a twelve month high of $3.65. The company has a market cap of $22.70 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.25 and a beta of 0.97.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data 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 return on equity of 10.17% and a net margin of 7.43%. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. As a group, analysts predict that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.86%. Banco Bradesco’s payout ratio is presently 11.54%.

About Banco Bradesco

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.