Sprucegrove Investment Management Ltd. boosted its stake in Banco Bradesco SA (NYSE:BBD) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,147,810 shares of the bank’s stock after acquiring an additional 2,177,402 shares during the period. Banco Bradesco SA accounts for 11.8% of Sprucegrove Investment Management Ltd.’s portfolio, making the stock its 3rd largest position. Sprucegrove Investment Management Ltd. owned approximately 0.38% of Banco Bradesco SA worth $196,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Banco Bradesco SA by 69.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,298,585 shares of the bank’s stock worth $96,022,000 after purchasing an additional 4,622,402 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Banco Bradesco SA during the second quarter worth $30,421,000. Parametric Portfolio Associates LLC raised its holdings in shares of Banco Bradesco SA by 6.0% during the second quarter. Parametric Portfolio Associates LLC now owns 4,495,847 shares of the bank’s stock worth $38,215,000 after purchasing an additional 256,350 shares during the period. Harding Loevner LP raised its holdings in shares of Banco Bradesco SA by 11.4% during the second quarter. Harding Loevner LP now owns 23,590,604 shares of the bank’s stock worth $200,520,000 after purchasing an additional 2,414,918 shares during the period. Finally, Quantbot Technologies LP raised its holdings in shares of Banco Bradesco SA by 75.0% during the second quarter. Quantbot Technologies LP now owns 34,135 shares of the bank’s stock worth $290,000 after purchasing an additional 14,625 shares during the period. 2.65% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This story was first posted by Daily Political and is the property of of Daily Political. If you are reading this story on another site, it was illegally copied and reposted in violation of United States and international trademark & copyright legislation. The original version of this story can be accessed at https://www.dailypolitical.com/2017/09/25/banco-bradesco-sa-bbd-is-sprucegrove-investment-management-ltd-s-3rd-largest-position.html.

A number of analysts have weighed in on the stock. Goldman Sachs Group, Inc. (The) raised shares of Banco Bradesco SA from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a report on Monday, September 11th. Scotiabank cut shares of Banco Bradesco SA from an “outperform” rating to a “sector perform” rating in a report on Tuesday, September 5th. ValuEngine raised shares of Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Banco Bradesco SA has a consensus rating of “Buy” and a consensus target price of $12.20.

The company also recently announced a special dividend, which will be paid on Monday, November 13th. Investors of record on Wednesday, October 4th will be given a $0.0061 dividend. This is a boost from Banco Bradesco SA’s previous special dividend of $0.01. This represents a yield of 0.64%. The ex-dividend date is Tuesday, October 3rd. Banco Bradesco SA’s dividend payout ratio (DPR) is 7.86%.

About Banco Bradesco SA

Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.

Want to see what other hedge funds are holding BBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Bradesco SA (NYSE:BBD).

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

Receive News & Ratings for Banco Bradesco SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco SA and related companies with MarketBeat.com's FREE daily email newsletter.