Peapack Gladstone Financial Corp Has $32,000 Position in Banco Bradesco S.A. (NYSE:BBD)

Peapack Gladstone Financial Corp boosted its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 54.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,012 shares of the bank’s stock after buying an additional 6,000 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Banco Bradesco were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its position in shares of Banco Bradesco by 13.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank’s stock worth $191,386,000 after purchasing an additional 12,236,689 shares in the last quarter. ARGA Investment Management LP lifted its position in Banco Bradesco by 215.1% during the 4th quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock worth $158,224,000 after buying an additional 56,552,808 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Banco Bradesco by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank’s stock worth $108,507,000 after purchasing an additional 9,762,964 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Banco Bradesco by 26.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank’s stock worth $97,079,000 after purchasing an additional 10,537,751 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Banco Bradesco by 1.8% during the 4th quarter. Franklin Resources Inc. now owns 45,810,825 shares of the bank’s stock worth $87,499,000 after purchasing an additional 821,239 shares during the last quarter.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $2.16 on Thursday. The company has a market cap of $22.99 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 0.32 and a beta of 0.56. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. The company has a 50 day moving average of $2.13 and a 200-day moving average of $2.21. Banco Bradesco S.A. has a 1-year low of $1.84 and a 1-year high of $2.96.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, equities research analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 7th. Shareholders of record on Wednesday, April 2nd will be issued a $0.0398 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 22.08%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, April 2nd. Banco Bradesco’s dividend payout ratio (DPR) is presently 6.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BBD shares. The Goldman Sachs Group lowered shares of Banco Bradesco from a “buy” rating to a “sell” rating and decreased their price target for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a research report on Monday, January 13th.

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.