Banco Bradesco S.A. (NYSE:BBD) Shares Acquired by Raymond James & Associates

Raymond James & Associates grew its stake in Banco Bradesco S.A. (NYSE:BBD) by 23.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,233 shares of the bank’s stock after buying an additional 20,887 shares during the period. Raymond James & Associates’ holdings in Banco Bradesco were worth $386,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Blair William & Co. IL boosted its holdings in shares of Banco Bradesco by 7.1% in the 3rd quarter. Blair William & Co. IL now owns 57,903 shares of the bank’s stock valued at $165,000 after buying an additional 3,835 shares in the last quarter. SG Americas Securities LLC boosted its stake in Banco Bradesco by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 34,102 shares of the bank’s stock worth $119,000 after purchasing an additional 4,319 shares during the period. First Trust Direct Indexing L.P. boosted its stake in Banco Bradesco by 18.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 41,675 shares of the bank’s stock worth $119,000 after purchasing an additional 6,575 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in Banco Bradesco by 4.5% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 158,088 shares of the bank’s stock worth $553,000 after purchasing an additional 6,764 shares during the period. Finally, Caprock Group LLC boosted its stake in Banco Bradesco by 9.6% during the 3rd quarter. Caprock Group LLC now owns 85,558 shares of the bank’s stock worth $244,000 after purchasing an additional 7,506 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BBD. Jefferies Financial Group cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price for the company in a research note on Tuesday, February 20th.

Banco Bradesco Trading Up 2.6 %

BBD stock opened at $2.72 on Friday. Banco Bradesco S.A. has a one year low of $2.60 and a one year high of $3.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. The company has a fifty day moving average of $2.80 and a 200-day moving average of $3.03.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 6th will be paid a $0.0036 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Friday, May 3rd. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

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.