Barometer Capital Management Inc. Acquires 549,800 Shares of Banco Bradesco SA $BBD

Barometer Capital Management Inc. boosted its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 4,953.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 560,900 shares of the bank’s stock after acquiring an additional 549,800 shares during the period. Barometer Capital Management Inc.’s holdings in Banco Bradesco were worth $2,012,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Orbis Allan Gray Ltd bought a new stake in shares of Banco Bradesco during the second quarter worth about $250,398,000. Franklin Resources Inc. boosted its stake in Banco Bradesco by 2,469.2% during the 4th quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock valued at $159,664,000 after purchasing an additional 46,080,856 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Banco Bradesco by 116.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after purchasing an additional 17,853,712 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Banco Bradesco by 25.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock worth $273,604,000 after purchasing an additional 16,908,425 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Banco Bradesco by 103.9% during the 3rd quarter. Marshall Wace LLP now owns 32,045,389 shares of the bank’s stock worth $108,313,000 after purchasing an additional 16,331,155 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Banco Bradesco presently has a consensus rating of “Buy”.

Banco Bradesco Trading Up 1.5%

Shares of BBD stock opened at $3.65 on Wednesday. Banco Bradesco SA has a 52-week low of $2.73 and a 52-week high of $4.30. The company has a 50-day simple moving average of $3.48 and a two-hundred day simple moving average of $3.70. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $38.63 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.44 and a beta of 0.53.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. The company had revenue of $1.50 billion during the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%. Research analysts anticipate that Banco Bradesco SA will post 0.5 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be given a dividend of $0.0037 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a c) annualized dividend and a dividend yield of 1.2%. Banco Bradesco’s dividend payout ratio (DPR) is currently 5.13%.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.