Monaco Asset Management SAM Has $1.17 Million Stock Holdings in Banco Bradesco SA (NYSE:BBD)

Monaco Asset Management SAM grew its holdings in Banco Bradesco SA (NYSE:BBD) by 16.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 525,000 shares of the bank’s stock after purchasing an additional 75,000 shares during the quarter. Monaco Asset Management SAM’s holdings in Banco Bradesco were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp lifted its stake in shares of Banco Bradesco by 11.4% in the 4th quarter. Northern Trust Corp now owns 4,117,017 shares of the bank’s stock valued at $7,864,000 after purchasing an additional 421,994 shares during the period. BNP Paribas Financial Markets increased its position in Banco Bradesco by 431.3% in the 4th quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank’s stock valued at $13,762,000 after buying an additional 5,848,994 shares in the last quarter. HighTower Advisors LLC increased its position in Banco Bradesco by 27.2% in the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank’s stock valued at $48,000 after buying an additional 5,421 shares in the last quarter. Bessemer Group Inc. increased its position in Banco Bradesco by 5.3% in the 4th quarter. Bessemer Group Inc. now owns 4,419,708 shares of the bank’s stock valued at $8,441,000 after buying an additional 222,543 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in Banco Bradesco in the 4th quarter valued at about $251,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BBD shares. Citigroup raised Banco Bradesco from a “hold” rating to a “buy” rating in a research report on Wednesday, May 28th. Bank of America raised Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.40.

Banco Bradesco Stock Performance

Shares of BBD opened at $2.78 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50 day moving average price of $2.93 and a two-hundred day moving average price of $2.46. The firm has a market capitalization of $29.53 billion, a P/E ratio of 8.67, a P/E/G ratio of 0.40 and a beta of 0.71. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.13.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 12.33% and a net margin of 9.08%. The firm had revenue of $5.69 billion during the quarter, compared to analyst estimates of $31.24 billion. Equities analysts forecast that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, September 11th. Stockholders of record on Wednesday, August 6th will be paid a $0.0023 dividend. This represents a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, August 5th. This is an increase from Banco Bradesco’s previous dividend of $0.00. Banco Bradesco’s payout ratio is presently 9.38%.

Banco Bradesco Company 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.