PNC Financial Services Group Inc. Raises Position in Banco Bradesco S.A. (NYSE:BBD)

PNC Financial Services Group Inc. increased its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 214,322 shares of the bank’s stock after purchasing an additional 10,938 shares during the period. PNC Financial Services Group Inc.’s holdings in Banco Bradesco were worth $409,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BBD. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Banco Bradesco in the fourth quarter valued at approximately $507,000. Banco Santander S.A. lifted its holdings in Banco Bradesco by 402.4% in the fourth quarter. Banco Santander S.A. now owns 1,802,819 shares of the bank’s stock valued at $3,443,000 after acquiring an additional 1,443,986 shares during the period. Vestmark Advisory Solutions Inc. boosted its position in shares of Banco Bradesco by 135.3% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 27,675 shares of the bank’s stock worth $53,000 after purchasing an additional 15,911 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Banco Bradesco during the 4th quarter worth $3,222,000. Finally, M&T Bank Corp increased its holdings in shares of Banco Bradesco by 38.1% in the 4th quarter. M&T Bank Corp now owns 80,241 shares of the bank’s stock valued at $153,000 after purchasing an additional 22,150 shares in the last quarter.

Banco Bradesco Stock Down 1.1 %

Shares of Banco Bradesco stock opened at $2.22 on Friday. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.98. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. The company has a fifty day moving average price of $2.06 and a 200 day moving average price of $2.28.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Equities research analysts forecast that Banco Bradesco S.A. 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 Friday, May 9th. Investors of record on Thursday, April 3rd 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 of this dividend is Thursday, April 3rd. This represents a $0.04 annualized dividend and a yield of 1.80%. Banco Bradesco’s dividend payout ratio is 6.67%.

Analysts Set New Price Targets

Several brokerages have recently commented on BBD. HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a research note on Monday, January 13th. The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “sell” rating and decreased their target price for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

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.