Banco Bradesco S.A. (NYSE:BBD) Shares Acquired by First Affirmative Financial Network

First Affirmative Financial Network increased its stake in Banco Bradesco S.A. (NYSE:BBD) by 82.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,257 shares of the bank’s stock after acquiring an additional 20,495 shares during the period. First Affirmative Financial Network’s holdings in Banco Bradesco were worth $86,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its position in Banco Bradesco by 170.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock valued at $233,988,000 after purchasing an additional 55,444,555 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Banco Bradesco by 19.2% during the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after buying an additional 12,228,662 shares during the period. Wellington Management Group LLP raised its holdings in Banco Bradesco by 15.1% in the third quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock valued at $125,144,000 after acquiring an additional 6,171,193 shares in the last quarter. Franklin Resources Inc. lifted its stake in Banco Bradesco by 2.6% in the third 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Banco Bradesco during the 3rd quarter worth approximately $104,542,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group decreased their price target on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a research report on Monday, January 13th.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $2.11 on Friday. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $3.36. The firm has a market capitalization of $22.40 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $2.01 and its 200 day moving average price is $2.39.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. As a group, sell-side analysts predict that Banco Bradesco S.A. will post 0.33 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.0031 per share. This represents a $0.04 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco’s dividend payout ratio (DPR) is 7.69%.

About Banco Bradesco

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.