Banco Bradesco S.A. (NYSE:BBD) Stock Position Boosted by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lifted its stake in Banco Bradesco S.A. (NYSE:BBD) by 56.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,616,918 shares of the bank’s stock after buying an additional 13,627,768 shares during the period. Banco Bradesco makes up 3.3% of Itau Unibanco Holding S.A.’s investment portfolio, making the stock its 9th largest holding. Itau Unibanco Holding S.A.’s holdings in Banco Bradesco were worth $100,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings 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 valued at $233,988,000 after acquiring an additional 55,444,555 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Banco Bradesco by 19.2% in the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock valued at $201,716,000 after acquiring an additional 12,228,662 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Banco Bradesco during the third quarter valued at $104,542,000. ARGA Investment Management LP increased its position in Banco Bradesco by 3.6% in the third quarter. ARGA Investment Management LP now owns 26,287,136 shares of the bank’s stock worth $69,924,000 after purchasing an additional 924,065 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Banco Bradesco by 1.9% during the 2nd quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock valued at $48,788,000 after purchasing an additional 411,616 shares in the last quarter.

Wall Street Analyst Weigh In

BBD has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Stock Down 2.6 %

Banco Bradesco stock opened at $2.08 on Tuesday. 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 S.A. has a fifty-two week low of $2.02 and a fifty-two week high of $3.65. The firm’s 50 day simple moving average is $2.52 and its 200-day simple moving average is $2.52.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.62 billion. Analysts anticipate that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.91%. Banco Bradesco’s dividend payout ratio (DPR) is presently 11.54%.

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.