Franklin Resources Inc. cut its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 19.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,618,887 shares of the bank’s stock after selling 5,045,900 shares during the quarter. Franklin Resources Inc. owned about 0.31% of Banco Bradesco worth $211,133,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BBD. Fisher Asset Management LLC increased its stake in Banco Bradesco by 36.9% during the fourth quarter. Fisher Asset Management LLC now owns 31,520,478 shares of the bank’s stock worth $322,770,000 after acquiring an additional 8,491,079 shares during the last quarter. Renaissance Technologies LLC increased its stake in Banco Bradesco by 1,000.5% during the fourth quarter. Renaissance Technologies LLC now owns 3,944,264 shares of the bank’s stock worth $40,389,000 after acquiring an additional 3,585,864 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in Banco Bradesco by 41.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 9,150,950 shares of the bank’s stock worth $93,705,000 after acquiring an additional 2,692,184 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Banco Bradesco during the fourth quarter worth about $25,631,000. Finally, Capital Growth Management LP increased its stake in Banco Bradesco by 46.7% during the fourth quarter. Capital Growth Management LP now owns 6,970,000 shares of the bank’s stock worth $71,373,000 after acquiring an additional 2,220,000 shares during the last quarter. Hedge funds and other institutional investors own 2.88% of the company’s stock.
Shares of Banco Bradesco SA (NYSE:BBD) opened at $11.94 on Monday. The company has a market capitalization of $79,921.35, a PE ratio of 12.12 and a beta of 1.87. Banco Bradesco SA has a 12 month low of $7.83 and a 12 month high of $13.18.
The business also recently announced a special dividend, which will be paid on Wednesday, May 9th. Stockholders of record on Wednesday, April 4th will be paid a $0.0058 dividend. The ex-dividend date is Tuesday, April 3rd. This is a positive change from Banco Bradesco’s previous special dividend of $0.01. Banco Bradesco’s dividend payout ratio (DPR) is 7.91%.
Several equities research analysts have commented on the company. ValuEngine upgraded Banco Bradesco from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Monday, January 22nd. Citigroup upgraded Banco Bradesco from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, Zacks Investment Research lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Banco Bradesco presently has a consensus rating of “Buy” and an average price target of $12.20.
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Banco Bradesco Profile
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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