Banco Bradesco SA $BBD Shares Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. lifted its position in shares of Banco Bradesco SA (NYSE:BBD) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,534,819 shares of the bank’s stock after acquiring an additional 170,005 shares during the period. LGT Fund Management Co Ltd.’s holdings in Banco Bradesco were worth $4,743,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp raised its position in shares of Banco Bradesco by 14.2% during the 1st quarter. Northern Trust Corp now owns 4,701,855 shares of the bank’s stock valued at $10,485,000 after acquiring an additional 584,838 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Banco Bradesco by 6.9% during the 1st quarter. Raymond James Financial Inc. now owns 1,803,157 shares of the bank’s stock valued at $4,021,000 after acquiring an additional 116,422 shares in the last quarter. Earnest Partners LLC grew its stake in Banco Bradesco by 2.5% during the 1st quarter. Earnest Partners LLC now owns 21,864,348 shares of the bank’s stock worth $48,757,000 after buying an additional 528,442 shares during the last quarter. American Century Companies Inc. grew its stake in Banco Bradesco by 6.4% during the 1st quarter. American Century Companies Inc. now owns 5,865,375 shares of the bank’s stock worth $13,080,000 after buying an additional 351,829 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Banco Bradesco by 263.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank’s stock worth $111,000 after buying an additional 36,177 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Banco Bradesco in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.40.

Banco Bradesco Price Performance

Shares of BBD opened at $3.18 on Friday. The company has a market cap of $33.79 billion, a P/E ratio of 9.07, a PEG ratio of 0.39 and a beta of 0.75. The stock has a fifty day moving average price of $3.06 and a 200 day moving average price of $2.79. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. Banco Bradesco SA has a 12 month low of $1.84 and a 12 month high of $3.41.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $32.70 billion. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%. On average, research analysts forecast that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 3rd will be paid a $0.0036 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a c) annualized dividend and a dividend yield of 1.4%. Banco Bradesco’s dividend payout ratio is presently 48.57%.

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.