Amundi Has $44.18 Million Position in Banco Bradesco SA $BBD

Amundi grew its holdings in Banco Bradesco SA (NYSE:BBD) by 131.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,534,363 shares of the bank’s stock after purchasing an additional 8,253,601 shares during the period. Amundi’s holdings in Banco Bradesco were worth $44,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBD. Goldman Sachs Group Inc. raised its holdings in shares of Banco Bradesco by 116.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after purchasing an additional 17,853,712 shares during the period. Fisher Asset Management LLC raised its position in shares of Banco Bradesco by 18.4% in the second quarter. Fisher Asset Management LLC now owns 88,098,675 shares of the bank’s stock valued at $272,225,000 after buying an additional 13,682,255 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Banco Bradesco in the 2nd quarter valued at $41,113,000. Wellington Management Group LLP grew its holdings in shares of Banco Bradesco by 22.7% during the 1st quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank’s stock worth $155,393,000 after purchasing an additional 12,873,188 shares in the last quarter. Finally, Moerus Capital Management LLC acquired a new position in Banco Bradesco in the first quarter valued at about $27,372,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Banco Bradesco currently has an average rating of “Moderate Buy” and a consensus target price of $2.40.

Banco Bradesco Stock Down 0.7%

BBD stock opened at $3.32 on Wednesday. The company has a market cap of $35.28 billion, a P/E ratio of 9.47, a price-to-earnings-growth ratio of 0.36 and a beta of 0.57. Banco Bradesco SA has a fifty-two week low of $1.84 and a fifty-two week high of $3.77. The stock’s 50 day simple moving average is $3.42 and its 200 day simple moving average is $3.15. 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 (NYSE:BBD) last released its quarterly earnings results on Wednesday, October 29th. 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 net margin of 9.61% and a return on equity of 12.95%. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $34.75 billion. On average, research analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 3rd will be given a $0.0035 dividend. This represents a c) annualized dividend and a dividend yield of 1.3%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 3rd. Banco Bradesco’s payout ratio is presently 5.71%.

Banco Bradesco 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.