Raymond James Financial Inc. Has $4.02 Million Stake in Banco Bradesco SA $BBD

Raymond James Financial Inc. grew its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 6.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,803,157 shares of the bank’s stock after buying an additional 116,422 shares during the quarter. Raymond James Financial Inc.’s holdings in Banco Bradesco were worth $4,021,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. American Century Companies Inc. boosted its stake in shares of 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. Moerus Capital Management LLC acquired a new position in shares of Banco Bradesco during the 1st quarter worth about $27,372,000. Longfellow Investment Management Co. LLC boosted its stake in shares of Banco Bradesco by 24.5% during the 1st quarter. Longfellow Investment Management Co. LLC now owns 626,569 shares of the bank’s stock worth $1,397,000 after buying an additional 123,171 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Banco Bradesco during the 1st quarter worth about $136,000. Finally, Truffle Hound Capital LLC acquired a new position in shares of Banco Bradesco during the 1st quarter worth about $1,672,000.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a research note on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.40.

Banco Bradesco Price Performance

Shares of NYSE BBD opened at $3.18 on Friday. The business’s 50 day moving average price is $2.94 and its two-hundred day moving average price is $2.63. The company has a market cap of $33.79 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.42 and a beta of 0.76. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. Banco Bradesco SA has a twelve month low of $1.84 and a twelve month high of $3.24.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $5.87 billion for 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, analysts predict that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be issued a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a c) annualized dividend and a yield of 1.3%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is currently 8.57%.

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.