Bp Plc lifted its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 28.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 863,638 shares of the bank’s stock after acquiring an additional 193,000 shares during the period. Bp Plc’s holdings in Banco Bradesco were worth $8,524,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its stake in Banco Bradesco by 490.7% in the 3rd quarter. Bank of Montreal Can now owns 1,421,786 shares of the bank’s stock worth $10,066,000 after buying an additional 1,181,092 shares in the last quarter. Aperio Group LLC grew its stake in Banco Bradesco by 13.0% in the 3rd quarter. Aperio Group LLC now owns 1,206,085 shares of the bank’s stock worth $8,539,000 after buying an additional 138,650 shares in the last quarter. Deltec Asset Management LLC grew its stake in Banco Bradesco by 79.2% in the 3rd quarter. Deltec Asset Management LLC now owns 375,030 shares of the bank’s stock worth $2,655,000 after buying an additional 165,720 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Banco Bradesco by 4.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,727,783 shares of the bank’s stock worth $54,713,000 after buying an additional 307,372 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Banco Bradesco by 90.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,739,478 shares of the bank’s stock worth $33,965,000 after buying an additional 2,245,759 shares in the last quarter. Institutional investors and hedge funds own 3.28% of the company’s stock.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Banco Bradesco from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a research note on Wednesday, January 23rd. ValuEngine raised shares of Banco Bradesco from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. HSBC cut shares of Banco Bradesco from a “hold” rating to a “reduce” rating in a research note on Tuesday, December 11th. Finally, Morgan Stanley raised shares of Banco Bradesco from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $13.00.
Shares of Banco Bradesco stock opened at $11.83 on Thursday. Banco Bradesco SA has a 52-week low of $6.49 and a 52-week high of $12.56. The firm has a market capitalization of $81.13 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.64 and a beta of 1.14.
The firm also recently disclosed a special dividend, which will be paid on Monday, April 8th. Stockholders of record on Thursday, March 7th will be paid a $0.0051 dividend. This is a boost from Banco Bradesco’s previous special dividend of $0.01. The ex-dividend date is Wednesday, March 6th. Banco Bradesco’s dividend payout ratio is 5.88%.
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About Banco Bradesco
Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.
Further Reading: What is the Difference Between Common Shares and Convertible Shares?
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