Banco Bradesco S.A. (NYSE:BBD) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN increased its holdings in Banco Bradesco S.A. (NYSE:BBD) by 10,645.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 332,143 shares of the bank’s stock after acquiring an additional 329,052 shares during the quarter. Wells Fargo & Company MN’s holdings in Banco Bradesco were worth $634,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Franklin Resources Inc. lifted its position in Banco Bradesco by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after acquiring an additional 1,139,470 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Banco Bradesco by 152.6% during the third quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank’s stock worth $731,000 after purchasing an additional 166,008 shares during the last quarter. Eagle Bay Advisors LLC lifted its holdings in shares of Banco Bradesco by 37.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank’s stock worth $54,000 after purchasing an additional 7,400 shares during the period. Traveka Wealth LLC purchased a new position in Banco Bradesco in the 4th quarter valued at $31,000. Finally, SG Americas Securities LLC acquired a new position in Banco Bradesco in the 4th quarter valued at $68,000.

Analyst Ratings Changes

BBD has been the subject of several recent analyst reports. The Goldman Sachs Group cut shares of Banco Bradesco from a “buy” rating to a “sell” rating and reduced their target price for the stock 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 price objective for the company in a research report on Monday, January 13th.

Banco Bradesco Trading Down 0.4 %

Shares of BBD stock opened at $2.41 on Friday. The business’s fifty day moving average price is $2.19 and its 200 day moving average price is $2.17. The firm has a market capitalization of $25.65 billion, a PE ratio of 8.03, a P/E/G ratio of 0.32 and a beta of 0.56. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. 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 issued its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting 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, sell-side analysts forecast that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 7th will be issued a $0.0022 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a yield of 1.08%. Banco Bradesco’s dividend payout ratio (DPR) is presently 6.67%.

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.