Banco Bradesco SA $BBD Shares Bought by Employees Retirement System of Texas

Employees Retirement System of Texas raised its stake in Banco Bradesco SA (NYSE:BBD) by 102.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,307,728 shares of the bank’s stock after buying an additional 662,926 shares during the quarter. Employees Retirement System of Texas’ holdings in Banco Bradesco were worth $4,355,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in Banco Bradesco by 14.6% during the third quarter. New York State Common Retirement Fund now owns 7,526,379 shares of the bank’s stock worth $25,439,000 after purchasing an additional 957,203 shares during the period. Barometer Capital Management Inc. purchased a new stake in Banco Bradesco during the third quarter worth about $1,186,000. Baillie Gifford & Co. increased its stake in Banco Bradesco by 36.8% during the fourth quarter. Baillie Gifford & Co. now owns 38,275,506 shares of the bank’s stock worth $127,457,000 after purchasing an additional 10,301,395 shares during the period. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Banco Bradesco during the third quarter worth about $12,728,000. Finally, Aquamarine Financial Cayman Ltd increased its stake in Banco Bradesco by 8.1% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank’s stock worth $517,056,000 after purchasing an additional 11,137,145 shares during the period.

Banco Bradesco Stock Up 0.7%

BBD stock opened at $3.57 on Thursday. The company’s 50 day moving average price is $3.74 and its 200 day moving average price is $3.70. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. Banco Bradesco SA has a fifty-two week low of $2.73 and a fifty-two week high of $4.30. The firm has a market capitalization of $37.78 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.44 and a beta of 0.56.

Banco Bradesco (NYSE:BBD) last released 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 for the quarter. On average, equities research analysts anticipate that Banco Bradesco SA will post 0.5 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.0039 per share. The ex-dividend date is Wednesday, June 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. Banco Bradesco’s payout ratio is currently 7.69%.

Wall Street Analyst Weigh In

BBD has been the topic of a number of recent research reports. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. 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. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Banco Bradesco presently has an average rating of “Buy”.

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.