DAVENPORT & Co LLC Acquires Shares of 34,573 Banco Bradesco S.A. (NYSE:BBD)

DAVENPORT & Co LLC acquired a new stake in shares of Banco Bradesco S.A. (NYSE:BBD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 34,573 shares of the bank’s stock, valued at approximately $66,000.

A number of other hedge funds have also added to or reduced their stakes in BBD. Sanctuary Advisors LLC purchased a new stake in shares of Banco Bradesco in the 2nd quarter worth about $68,000. Atomi Financial Group Inc. grew its position in shares of Banco Bradesco by 38.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 124,188 shares of the bank’s stock worth $330,000 after buying an additional 34,370 shares during the period. Perpetual Ltd purchased a new stake in shares of Banco Bradesco in the 3rd quarter worth about $126,000. First Affirmative Financial Network purchased a new stake in shares of Banco Bradesco in the 3rd quarter worth about $66,000. Finally, Inspire Advisors LLC grew its position in shares of Banco Bradesco by 18.5% in the 3rd quarter. Inspire Advisors LLC now owns 64,816 shares of the bank’s stock worth $172,000 after buying an additional 10,096 shares during the period.

Analyst Ratings Changes

BBD has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group lowered their target price on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a research report on Monday, January 13th.

Banco Bradesco Price Performance

NYSE BBD opened at $2.11 on Monday. Banco Bradesco S.A. has a 52 week low of $1.84 and a 52 week high of $2.98. The firm has a market capitalization of $22.40 billion, a P/E ratio of 8.10, a PEG ratio of 0.28 and a beta of 0.94. The company has a 50-day moving average price of $1.99 and a 200-day moving average price of $2.38. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. Equities research analysts anticipate that Banco Bradesco S.A. will post 0.33 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.0033 per share. This is a boost from Banco Bradesco’s previous dividend of $0.00. The ex-dividend date is Friday, March 7th. Banco Bradesco’s dividend payout ratio (DPR) is presently 11.54%.

About Banco Bradesco

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.