Wellington Management Group LLP Has $125.14 Million Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

Wellington Management Group LLP grew its stake in Banco Bradesco S.A. (NYSE:BBD) by 15.1% during the third quarter, HoldingsChannel.com reports. The firm owned 47,046,779 shares of the bank’s stock after buying an additional 6,171,193 shares during the period. Wellington Management Group LLP’s holdings in Banco Bradesco were worth $125,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in 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 during the last quarter. Townsquare Capital LLC bought a new stake in shares of Banco Bradesco in the 3rd quarter valued at about $37,000. Insigneo Advisory Services LLC acquired a new stake in shares of Banco Bradesco in the 2nd quarter valued at approximately $43,000. Mayport LLC bought a new position in Banco Bradesco during the 2nd quarter worth approximately $47,000. Finally, SG Americas Securities LLC acquired a new position in Banco Bradesco during the second quarter valued at approximately $49,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BBD. The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2.50 to $3.20 in a research report on Monday, August 19th. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

Banco Bradesco Stock Down 2.0 %

BBD stock opened at $2.01 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $21.42 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.24 and a beta of 0.94. Banco Bradesco S.A. has a fifty-two week low of $2.01 and a fifty-two week high of $3.65. The business has a 50-day moving average of $2.45 and a 200-day moving average of $2.49.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share 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%. On average, sell-side analysts anticipate that Banco Bradesco S.A. will post 0.34 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 Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio is currently 11.54%.

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.