iA Global Asset Management Inc. Acquires 21,844 Shares of Banco Bradesco S.A. (NYSE:BBD)

iA Global Asset Management Inc. increased its holdings in Banco Bradesco S.A. (NYSE:BBD) by 14.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,553 shares of the bank’s stock after buying an additional 21,844 shares during the period. iA Global Asset Management Inc.’s holdings in Banco Bradesco were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. ARGA Investment Management LP increased its position in shares of Banco Bradesco by 215.1% during the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock worth $158,224,000 after purchasing an additional 56,552,808 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Banco Bradesco by 170.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after purchasing an additional 55,444,555 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Banco Bradesco during the third quarter worth $104,542,000. Itau Unibanco Holding S.A. increased its position in shares of Banco Bradesco by 56.8% during the third quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after purchasing an additional 13,627,768 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Banco Bradesco by 19.2% during the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after purchasing an additional 12,228,662 shares in the last quarter.

Banco Bradesco Price Performance

Shares of BBD opened at $2.24 on Friday. The firm has a market capitalization of $23.79 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. Banco Bradesco S.A. has a 1-year low of $1.84 and a 1-year high of $2.98. The company’s fifty day moving average price is $2.06 and its 200-day moving average price is $2.27.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, equities research analysts predict that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 9th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.0033 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.79%. Banco Bradesco’s payout ratio is 6.67%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BBD shares. The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “sell” rating and reduced their price target for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a research report on Monday, January 13th.

Banco Bradesco Company 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.