Fisher Asset Management LLC Increases Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Fisher Asset Management LLC boosted its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 19.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,833,254 shares of the bank’s stock after buying an additional 12,228,662 shares during the quarter. Fisher Asset Management LLC’s holdings in Banco Bradesco were worth $201,716,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after purchasing an additional 5,623 shares in the last quarter. Insigneo Advisory Services LLC acquired a new position in shares of Banco Bradesco in the second quarter valued at approximately $43,000. Mayport LLC acquired a new position in shares of Banco Bradesco in the second quarter valued at approximately $47,000. SG Americas Securities LLC acquired a new position in shares of Banco Bradesco in the second quarter valued at approximately $49,000. Finally, Eagle Bay Advisors LLC grew its holdings in shares of Banco Bradesco by 110.5% in the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock valued at $54,000 after purchasing an additional 10,500 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBD. The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2.50 to $3.20 in a report on Monday, August 19th. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday.

Banco Bradesco Stock Performance

NYSE BBD opened at $2.35 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a 52 week low of $2.16 and a 52 week high of $3.65. The firm has a 50 day moving average of $2.56 and a two-hundred day moving average of $2.53.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. Sell-side analysts predict that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is currently 11.54%.

About Banco Bradesco

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.