Eagle Bay Advisors LLC Purchases 7,400 Shares of Banco Bradesco S.A. (NYSE:BBD)

Eagle Bay Advisors LLC raised its position in Banco Bradesco S.A. (NYSE:BBD) by 37.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,400 shares of the bank’s stock after purchasing an additional 7,400 shares during the period. Eagle Bay Advisors LLC’s holdings in Banco Bradesco were worth $54,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in 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 valued at $233,988,000 after buying an additional 55,444,555 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Banco Bradesco by 19.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock valued at $201,716,000 after acquiring an additional 12,228,662 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Banco Bradesco by 15.1% during the 3rd quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock valued at $125,144,000 after acquiring an additional 6,171,193 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Banco Bradesco by 2.6% during the third quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after purchasing an additional 1,139,470 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Banco Bradesco in the third quarter worth approximately $104,542,000.

Banco Bradesco Trading Up 0.3 %

BBD stock opened at $1.89 on Tuesday. The company has a market capitalization of $20.06 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco S.A. has a one year low of $1.84 and a one year high of $3.36. The company’s 50 day moving average price is $2.11 and its two-hundred day moving average price is $2.41.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. As a group, analysts predict that Banco Bradesco S.A. will post 0.33 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 5th will be issued a dividend of $0.0031 per share. This represents a $0.04 annualized dividend and a yield of 1.97%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco’s dividend payout ratio is presently 7.69%.

Analysts Set New Price Targets

BBD has been the subject of several research analyst reports. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price for the company in a research report on Monday. The Goldman Sachs Group reduced their target price on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th.

Banco Bradesco 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.