Bamco Inc. NY Invests $25.34 Million in Banco Bradesco SA $BBD

Bamco Inc. NY bought a new position in shares of Banco Bradesco SA (NYSE:BBD) in the second quarter, Holdings Channel.com reports. The institutional investor bought 7,302,361 shares of the bank’s stock, valued at approximately $25,339,000.

Other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in Banco Bradesco in the 2nd quarter worth approximately $40,000. Matters Capital LLC acquired a new stake in Banco Bradesco during the 2nd quarter valued at approximately $95,000. Global Wealth Strategies & Associates acquired a new stake in Banco Bradesco during the 2nd quarter valued at approximately $38,000. Bank of America Corp DE boosted its holdings in shares of Banco Bradesco by 355.9% in the 1st quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock valued at $102,487,000 after acquiring an additional 21,920,074 shares during the last quarter. Finally, Amundi increased its stake in shares of Banco Bradesco by 20.0% in the first quarter. Amundi now owns 24,583,083 shares of the bank’s stock worth $89,728,000 after acquiring an additional 4,099,099 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Banco Bradesco Stock Up 0.6%

Shares of BBD opened at $3.27 on Thursday. The firm has a market cap of $34.65 billion, a P/E ratio of 7.79, a PEG ratio of 0.40 and a beta of 0.53. The stock’s 50 day moving average is $3.42 and its two-hundred day moving average is $3.63. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. Banco Bradesco SA has a 12 month low of $2.95 and a 12 month high of $4.30.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. The business had revenue of $6.77 billion for the quarter. Analysts predict that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 3rd will be paid a $0.0037 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a c) annualized dividend and a 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 7.14%.

Banco Bradesco Company 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.