Franklin Resources Inc. Acquires 1,139,470 Shares of Banco Bradesco S.A. (NYSE:BBD)

Franklin Resources Inc. increased its holdings in Banco Bradesco S.A. (NYSE:BBDFree Report) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,989,586 shares of the bank’s stock after purchasing an additional 1,139,470 shares during the period. Franklin Resources Inc.’s holdings in Banco Bradesco were worth $120,122,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in Banco Bradesco by 170.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after purchasing an additional 55,444,555 shares during the last quarter. Fisher Asset Management LLC boosted its stake in 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 boosted its stake in Banco Bradesco by 15.1% during the third quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock worth $125,144,000 after buying an additional 6,171,193 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Banco Bradesco during the third quarter worth $104,542,000. Finally, Itau Unibanco Holding S.A. boosted its stake in Banco Bradesco by 56.8% during the third quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after buying an additional 13,627,768 shares during the period.

Analysts Set New Price Targets

BBD has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.50 to $3.20 in a research note on Monday, August 19th.

Read Our Latest Stock Analysis on Banco Bradesco

Banco Bradesco Stock Down 1.9 %

NYSE:BBD opened at $2.02 on Monday. Banco Bradesco S.A. has a 1-year low of $2.01 and a 1-year high of $3.65. The company has a 50-day moving average of $2.40 and a 200 day moving average of $2.48. The firm has a market cap of $21.53 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 0.32 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.

Banco Bradesco (NYSE:BBDGet Free Report) last released its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. As a group, research analysts anticipate that Banco Bradesco S.A. will post 0.33 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.0033 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 1.96%. Banco Bradesco’s payout ratio is currently 11.54%.

Banco Bradesco Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

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