Acadian Asset Management LLC Makes New Investment in Banco Bradesco SA $BBD

Acadian Asset Management LLC purchased a new stake in shares of Banco Bradesco SA (NYSE:BBD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,309,978 shares of the bank’s stock, valued at approximately $41,113,000. Acadian Asset Management LLC owned 0.13% of Banco Bradesco at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Banco Bradesco by 116.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after buying an additional 17,853,712 shares during the period. Wellington Management Group LLP boosted its stake in Banco Bradesco by 22.7% during the first quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank’s stock worth $155,393,000 after acquiring an additional 12,873,188 shares in the last quarter. Moerus Capital Management LLC bought a new stake in Banco Bradesco during the first quarter worth about $27,372,000. Natixis Advisors LLC grew its holdings in Banco Bradesco by 148.2% in the first quarter. Natixis Advisors LLC now owns 9,331,197 shares of the bank’s stock worth $20,809,000 after purchasing an additional 5,572,096 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Banco Bradesco by 3.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 103,749,417 shares of the bank’s stock valued at $231,361,000 after purchasing an additional 3,547,203 shares in the last quarter.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $3.54 on Monday. The company has a market capitalization of $37.62 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.43 and a beta of 0.76. Banco Bradesco SA has a 1-year low of $1.84 and a 1-year high of $3.55. The firm’s 50 day simple moving average is $3.27 and its two-hundred day simple moving average is $3.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Wednesday, October 29th. The bank reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Banco Bradesco had a net margin of 9.61% and a return on equity of 13.16%. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $34.75 billion. Research analysts expect that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.0035 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. Banco Bradesco’s payout ratio is presently 5.71%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Banco Bradesco in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.40.

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.