Fisher Asset Management LLC Grows Stake in Banco Bradesco S.A. (NYSE:BBD)

Fisher Asset Management LLC boosted its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,884,093 shares of the bank’s stock after acquiring an additional 50,839 shares during the period. Fisher Asset Management LLC owned 0.71% of Banco Bradesco worth $144,939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in Banco Bradesco by 85.5% during the 4th quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank’s stock worth $7,519,000 after buying an additional 1,814,009 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Banco Bradesco by 226.1% in the fourth quarter. Blue Trust Inc. now owns 36,699 shares of the bank’s stock valued at $70,000 after acquiring an additional 25,445 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Banco Bradesco by 9.4% in the fourth quarter. Vontobel Holding Ltd. now owns 2,925,569 shares of the bank’s stock valued at $5,588,000 after acquiring an additional 251,998 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Banco Bradesco by 15.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 268,358 shares of the bank’s stock worth $510,000 after buying an additional 36,542 shares in the last quarter. Finally, ARGA Investment Management LP raised its position in Banco Bradesco by 215.1% during the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock worth $158,224,000 after acquiring an additional 56,552,808 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BBD shares. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and decreased their target price for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. Finally, HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a research note on Monday, January 13th.

Banco Bradesco Stock Performance

NYSE:BBD opened at $1.95 on Friday. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.98. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. The company has a 50-day moving average of $2.01 and a 200-day moving average of $2.35. The firm has a market cap of $20.70 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last announced 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%. Analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be paid a $0.0033 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.04 annualized dividend and a dividend yield of 2.02%. 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.