Acadian Asset Management LLC Makes New Investment in Banco Bradesco SA $BBD

Acadian Asset Management LLC has acquired a new stake in Banco Bradesco SA, purchasing 13,309,978 shares valued at approximately $41.1 million during the 2nd quarter. Other institutional investors, including Goldman Sachs and Wellington Management, have also increased their holdings in the bank. Banco Bradesco recently declared a monthly dividend of $0.0035 per share, up from $0.00, with a payout ratio of 5.71%. The stock currently has a consensus rating of "Hold" with a target price of $2.40.

Acadian Asset Management LLC purchased a new stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,309,978 shares of the bank's stock, valued at approximately $41,113,000. Acadian Asset Management LLC owned 0.13% of Banco Bradesco at the end of the most recent reporting period.

Get Banco Bradesco alerts:

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Banco Bradesco by 116.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock worth $73,885,000 after buying an additional 17,853,712 shares during the period. Wellington Management Group LLP boosted its stake in Banco Bradesco by 22.7% during the first quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank's stock worth $155,393,000 after acquiring an additional 12,873,188 shares in the last quarter. Moerus Capital Management LLC bought a new stake in Banco Bradesco during the first quarter worth about $27,372,000. Natixis Advisors LLC grew its holdings in Banco Bradesco by 148.2% in the first quarter. Natixis Advisors LLC now owns 9,331,197 shares of the bank's stock worth $20,809,000 after purchasing an additional 5,572,096 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Banco Bradesco by 3.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 103,749,417 shares of the bank's stock valued at $231,361,000 after purchasing an additional 3,547,203 shares in the last quarter.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $3.54 on Monday. The company has a market capitalization of $37.62 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.43 and a beta of 0.76. Banco Bradesco SA has a 1-year low of $1.84 and a 1-year high of $3.55. The firm's 50 day simple moving average is $3.27 and its two-hundred day simple moving average is $3.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its earnings results on Wednesday, October 29th. The bank reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Banco Bradesco had a net margin of 9.61% and a return on equity of 13.16%. The company had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $34.75 billion. Research analysts expect that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.0035 per share. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. Banco Bradesco's payout ratio is presently 5.71%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Banco Bradesco in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.40.

Check Out Our Latest Analysis on Banco Bradesco

Banco Bradesco Company Profile

(Free Report)

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.

Should You Invest $1,000 in Banco Bradesco Right Now?

Before you consider Banco Bradesco, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Banco Bradesco wasn't on the list.

While Banco Bradesco currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here