Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 188,100 Banco Bradesco SA (BBD)
Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Banco Bradesco SA (NYSE:BBD) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 188,100 shares of the bank’s stock, valued at approximately $1,860,000.
Other hedge funds have also recently bought and sold shares of the company. NS Partners Ltd boosted its stake in shares of Banco Bradesco by 56.9% during the fourth quarter. NS Partners Ltd now owns 581,368 shares of the bank’s stock valued at $5,750,000 after purchasing an additional 210,900 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Banco Bradesco during the fourth quarter valued at about $353,000. Northern Trust Corp boosted its stake in shares of Banco Bradesco by 3.0% during the fourth quarter. Northern Trust Corp now owns 4,116,742 shares of the bank’s stock valued at $40,715,000 after purchasing an additional 120,941 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Banco Bradesco during the fourth quarter valued at about $187,000. Finally, Advisor Group Inc. boosted its stake in shares of Banco Bradesco by 125.8% during the fourth quarter. Advisor Group Inc. now owns 8,350 shares of the bank’s stock valued at $83,000 after purchasing an additional 4,652 shares in the last quarter. Hedge funds and other institutional investors own 3.01% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Thursday, November 22nd. ValuEngine lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. HSBC lowered Banco Bradesco from a “hold” rating to a “reduce” rating in a research note on Tuesday, December 11th. Finally, Scotiabank lowered Banco Bradesco from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.00.
Banco Bradesco (NYSE:BBD) last issued its earnings results on Wednesday, January 30th. The bank reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $8.91 billion during the quarter. Banco Bradesco had a return on equity of 17.68% and a net margin of 15.16%. On average, equities analysts anticipate that Banco Bradesco SA will post 0.91 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Monday, April 8th. Stockholders of record on Thursday, March 7th will be issued a dividend of $0.0051 per share. This is an increase from Banco Bradesco’s previous special dividend of $0.01. The ex-dividend date of this dividend is Wednesday, March 6th. Banco Bradesco’s payout ratio is currently 5.88%.
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Banco Bradesco Company Profile
Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.
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