Franklin Resources Inc. Grows Position in Banco Bradesco SA $BBD

Franklin Resources Inc. raised its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 2,469.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,947,074 shares of the bank’s stock after acquiring an additional 46,080,856 shares during the period. Franklin Resources Inc.’s holdings in Banco Bradesco were worth $159,664,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Corient Private Wealth LLC lifted its stake in shares of Banco Bradesco by 8.8% in the 2nd quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank’s stock valued at $130,000 after purchasing an additional 3,402 shares during the period. GAMMA Investing LLC grew its holdings in shares of Banco Bradesco by 40.1% during the fourth quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock worth $42,000 after buying an additional 3,619 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Banco Bradesco by 59.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 9,784 shares of the bank’s stock valued at $33,000 after purchasing an additional 3,648 shares during the period. Orion Porfolio Solutions LLC lifted its position in Banco Bradesco by 1.6% in the third quarter. Orion Porfolio Solutions LLC now owns 230,065 shares of the bank’s stock valued at $778,000 after buying an additional 3,716 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in Banco Bradesco by 34.7% in the second quarter. Osaic Holdings Inc. now owns 16,915 shares of the bank’s stock valued at $52,000 after buying an additional 4,355 shares during the last quarter.

Banco Bradesco Trading Down 0.8%

Shares of BBD stock opened at $3.31 on Thursday. The firm has a 50-day moving average price of $3.71 and a 200 day moving average price of $3.69. Banco Bradesco SA has a twelve month low of $2.73 and a twelve month high of $4.30. The company has a market capitalization of $35.02 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 0.41 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share for the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. The firm had revenue of $1.50 billion during the quarter. Research analysts forecast that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of $0.0039 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is currently 7.69%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BBD. Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Itau BBA Securities reissued an “outperform” rating on shares of Banco Bradesco in a report on Friday, February 27th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

About Banco Bradesco

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.