Banco Bradesco SA $BBD Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its position in Banco Bradesco SA (NYSE:BBD) by 14.6% during the third quarter, Holdings Channel reports. The firm owned 7,526,379 shares of the bank’s stock after buying an additional 957,203 shares during the quarter. New York State Common Retirement Fund’s holdings in Banco Bradesco were worth $25,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Corient Private Wealth LLC grew its stake in shares of Banco Bradesco by 8.8% in the second quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank’s stock valued at $130,000 after buying an additional 3,402 shares in the last quarter. Metis Global Partners LLC grew its position in Banco Bradesco by 11.3% in the 2nd quarter. Metis Global Partners LLC now owns 36,466 shares of the bank’s stock valued at $113,000 after acquiring an additional 3,701 shares in the last quarter. PDS Planning Inc grew its position in Banco Bradesco by 11.1% in the 3rd quarter. PDS Planning Inc now owns 37,354 shares of the bank’s stock valued at $126,000 after acquiring an additional 3,736 shares in the last quarter. GAMMA Investing LLC increased its stake in Banco Bradesco by 92.7% during the second quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock worth $25,000 after purchasing an additional 3,864 shares during the period. Finally, Gould Asset Management LLC CA lifted its position in shares of Banco Bradesco by 5.8% during the third quarter. Gould Asset Management LLC CA now owns 76,976 shares of the bank’s stock worth $260,000 after purchasing an additional 4,200 shares in the last quarter.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $4.05 on Friday. The business has a 50-day simple moving average of $3.54 and a 200-day simple moving average of $3.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12. Banco Bradesco SA has a one year low of $1.93 and a one year high of $4.28. The company has a market cap of $44.17 billion, a PE ratio of 11.56, a P/E/G ratio of 0.39 and a beta of 0.54.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Banco Bradesco had a return on equity of 12.95% and a net margin of 9.61%.The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $34.75 billion. On average, equities research analysts forecast that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.0035 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a c) annualized dividend and a dividend yield of 1.0%. Banco Bradesco’s dividend payout ratio is presently 8.57%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2.00.

Banco Bradesco Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.