Russell Investments Group Ltd. Has $62.32 Million Holdings in Banco Bradesco SA $BBD

Russell Investments Group Ltd. lifted its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 34.2% during the 3rd quarter, Holdings Channel reports. The firm owned 18,506,902 shares of the bank’s stock after purchasing an additional 4,717,361 shares during the period. Russell Investments Group Ltd.’s holdings in Banco Bradesco were worth $62,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LLC boosted its stake in shares of Banco Bradesco by 8.8% in the second quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank’s stock valued at $130,000 after buying an additional 3,402 shares during the period. Metis Global Partners LLC increased its stake in Banco Bradesco by 11.3% during the 2nd quarter. Metis Global Partners LLC now owns 36,466 shares of the bank’s stock worth $113,000 after acquiring an additional 3,701 shares during the period. Orion Porfolio Solutions LLC increased its stake in Banco Bradesco by 1.6% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 230,065 shares of the bank’s stock worth $778,000 after acquiring an additional 3,716 shares during the period. PDS Planning Inc raised its holdings in Banco Bradesco by 11.1% in the 3rd quarter. PDS Planning Inc now owns 37,354 shares of the bank’s stock valued at $126,000 after acquiring an additional 3,736 shares in the last quarter. Finally, Gould Asset Management LLC CA raised its holdings in Banco Bradesco by 5.8% in the 3rd quarter. Gould Asset Management LLC CA now owns 76,976 shares of the bank’s stock valued at $260,000 after acquiring an additional 4,200 shares in the last quarter.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $3.88 on Wednesday. Banco Bradesco SA has a 1 year low of $1.95 and a 1 year high of $4.28. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.45 and a quick ratio of 1.12. The company’s 50 day simple moving average is $3.84 and its 200 day simple moving average is $3.52.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 6th. The bank reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%. Analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th will be given a dividend of $0.0036 per share. The ex-dividend date is Wednesday, March 4th. This represents a c) annualized dividend and a dividend yield of 1.1%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is currently 7.69%.

Analyst Ratings Changes

BBD has been the topic of several analyst reports. Itau BBA Securities reissued an “outperform” rating on shares of Banco Bradesco in a report on Friday, February 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.

About Banco Bradesco

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.