Employees Retirement System of Texas Grows Position in Banco Bradesco SA $BBD

Employees Retirement System of Texas raised its stake in Banco Bradesco SA (NYSE:BBD) by 102.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,307,728 shares of the bank’s stock after acquiring an additional 662,926 shares during the period. Employees Retirement System of Texas’ holdings in Banco Bradesco were worth $4,355,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BBD. Millennium Management LLC increased its stake in Banco Bradesco by 28.4% in the first quarter. Millennium Management LLC now owns 6,834,192 shares of the bank’s stock valued at $15,240,000 after purchasing an additional 1,510,481 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Banco Bradesco by 3,749.8% in the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank’s stock valued at $86,000 after purchasing an additional 37,610 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Banco Bradesco by 116.9% in the first 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 last quarter. Sivia Capital Partners LLC purchased a new position in Banco Bradesco in the second quarter valued at approximately $62,000. Finally, JPMorgan Chase & Co. increased its stake in Banco Bradesco by 22.0% in the second quarter. JPMorgan Chase & Co. now owns 964,959 shares of the bank’s stock valued at $2,982,000 after purchasing an additional 174,126 shares during the last quarter.

Banco Bradesco Price Performance

Shares of NYSE BBD opened at $3.57 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a fifty day moving average price of $3.74 and a 200 day moving average price of $3.70. Banco Bradesco SA has a 1-year low of $2.73 and a 1-year high of $4.30. The company has a market cap of $37.78 billion, a PE ratio of 9.14, a P/E/G ratio of 0.44 and a beta of 0.56.

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

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a $0.0039 dividend. This represents a c) dividend on an annualized basis and a 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, June 3rd. Banco Bradesco’s dividend payout ratio is 7.69%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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 reiterated an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company 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.