Raymond James Financial Inc. Takes $3.22 Million Position in Banco Bradesco S.A. (NYSE:BBD)

Raymond James Financial Inc. purchased a new position in shares of Banco Bradesco S.A. (NYSE:BBD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,686,735 shares of the bank’s stock, valued at approximately $3,222,000.

Other hedge funds have also bought and sold shares of the company. M&T Bank Corp grew its position in Banco Bradesco by 38.1% during the fourth quarter. M&T Bank Corp now owns 80,241 shares of the bank’s stock worth $153,000 after buying an additional 22,150 shares in the last quarter. LGT Fund Management Co Ltd. acquired a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $2,607,000. New York State Common Retirement Fund lifted its holdings in shares of Banco Bradesco by 85.5% during the 4th quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank’s stock worth $7,519,000 after acquiring an additional 1,814,009 shares during the period. Blue Trust Inc. boosted its position in shares of Banco Bradesco by 226.1% during the 4th quarter. Blue Trust Inc. now owns 36,699 shares of the bank’s stock worth $70,000 after acquiring an additional 25,445 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in Banco Bradesco by 9.4% in the fourth quarter. Vontobel Holding Ltd. now owns 2,925,569 shares of the bank’s stock valued at $5,588,000 after acquiring an additional 251,998 shares during the last quarter.

Banco Bradesco Trading Down 1.1 %

Shares of Banco Bradesco stock opened at $2.30 on Friday. The firm’s 50 day moving average is $2.09 and its 200 day moving average is $2.26. The firm has a market capitalization of $24.42 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. Banco Bradesco S.A. has a 1 year low of $1.84 and a 1 year high of $2.98. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting 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 company also recently disclosed a monthly dividend, which will be paid on Friday, November 7th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.0398 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $0.48 dividend on an annualized basis and a yield of 20.78%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is currently 6.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BBD shares. The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “sell” rating and reduced their target price for the company from $2.40 to $2.00 in a report on Wednesday, February 12th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research report on Monday, January 13th.

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.