Algebris UK Ltd Buys New Position in Banco Bradesco S.A. (NYSE:BBD)

Algebris UK Ltd bought a new stake in shares of Banco Bradesco S.A. (NYSE:BBD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,649,330 shares of the bank’s stock, valued at approximately $14,111,000. Banco Bradesco makes up approximately 3.6% of Algebris UK Ltd’s holdings, making the stock its 11th largest holding. Algebris UK Ltd owned approximately 0.07% of Banco Bradesco as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in BBD. Atria Investments Inc increased its position in Banco Bradesco by 24.3% during the 3rd quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock valued at $117,000 after buying an additional 8,641 shares in the last quarter. Natixis Advisors LLC increased its position in Banco Bradesco by 12.0% during the 3rd quarter. Natixis Advisors LLC now owns 262,107 shares of the bank’s stock valued at $697,000 after buying an additional 27,993 shares in the last quarter. Caprock Group LLC increased its position in Banco Bradesco by 78.5% during the 3rd quarter. Caprock Group LLC now owns 25,456 shares of the bank’s stock valued at $69,000 after buying an additional 11,192 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Banco Bradesco during the 3rd quarter valued at about $1,941,000. Finally, West Family Investments Inc. grew its stake in Banco Bradesco by 176.6% during the 3rd quarter. West Family Investments Inc. now owns 75,525 shares of the bank’s stock valued at $201,000 after purchasing an additional 48,224 shares during the last quarter.

Banco Bradesco Stock Down 0.2 %

Banco Bradesco stock opened at $2.21 on Wednesday. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. Banco Bradesco S.A. has a 52 week low of $1.84 and a 52 week high of $2.98. The business’s 50-day moving average price is $2.04 and its 200 day moving average price is $2.28. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, sell-side analysts anticipate that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 7th will be issued a dividend of $0.0033 per share. This represents a $0.04 annualized dividend and a yield of 1.78%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Friday, March 7th. Banco Bradesco’s dividend payout ratio (DPR) is 6.67%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “sell” rating and dropped their price target for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th.

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.