Banco Bradesco SA $BBD Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 14.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,526,379 shares of the bank’s stock after buying an additional 957,203 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Banco Bradesco worth $25,439,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. GAMMA Investing LLC boosted its position in Banco Bradesco by 92.7% during the second quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock worth $25,000 after acquiring an additional 3,864 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after purchasing an additional 4,353 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Banco Bradesco in the 2nd quarter worth approximately $42,000. Natural Investments LLC acquired a new position in shares of Banco Bradesco during the 2nd quarter worth approximately $46,000. Finally, Osaic Holdings Inc. grew its position in shares of Banco Bradesco by 34.7% in the second quarter. Osaic Holdings Inc. now owns 16,915 shares of the bank’s stock valued at $52,000 after purchasing an additional 4,355 shares in the last quarter.

Banco Bradesco Trading Down 2.5%

BBD opened at $4.05 on Friday. The stock has a market capitalization of $44.17 billion, a PE ratio of 11.56, a P/E/G ratio of 0.39 and a beta of 0.54. Banco Bradesco SA has a one year low of $1.93 and a one year high of $4.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50 day moving average price is $3.54 and its 200 day moving average price is $3.30.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 30th. The bank reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Banco Bradesco had a net margin of 9.61% and a return on equity of 12.95%. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $34.75 billion. As a group, equities research analysts expect 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 Monday, March 9th. Shareholders of record on Wednesday, February 4th will be given 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) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, February 4th. Banco Bradesco’s dividend payout ratio (DPR) is 8.57%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2.00.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.