First Trust Advisors LP bought a new stake in Banco Bradesco SA (NYSE:BBD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 188,776 shares of the bank’s stock, valued at approximately $1,605,000.
Other hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp bought a new position in Banco Bradesco SA in the first quarter valued at about $109,000. Ronald Blue & Co. LLC lifted its holdings in Banco Bradesco SA by 4.4% in the first quarter. Ronald Blue & Co. LLC now owns 10,961 shares of the bank’s stock valued at $112,000 after acquiring an additional 466 shares during the period. US Bancorp DE lifted its holdings in Banco Bradesco SA by 4.4% in the first quarter. US Bancorp DE now owns 10,993 shares of the bank’s stock valued at $113,000 after acquiring an additional 468 shares during the period. Koch Industries Inc. bought a new position in Banco Bradesco SA in the first quarter valued at about $114,000. Finally, ZWJ Investment Counsel Inc. bought a new position in Banco Bradesco SA in the first quarter valued at about $157,000. 2.65% of the stock is currently owned by institutional investors.
Shares of Banco Bradesco SA (NYSE BBD) opened at 11.49 on Friday. The stock has a market cap of $69.92 billion, a PE ratio of 12.57 and a beta of 1.75. Banco Bradesco SA has a 12 month low of $7.15 and a 12 month high of $11.50. The firm has a 50-day moving average price of $10.47 and a 200-day moving average price of $9.40.
The company also recently declared a special dividend, which will be paid on Monday, November 13th. Shareholders of record on Wednesday, October 4th will be given a dividend of $0.0061 per share. The ex-dividend date is Tuesday, October 3rd. This represents a yield of 0.64%. This is a boost from Banco Bradesco SA’s previous special dividend of $0.01. Banco Bradesco SA’s payout ratio is currently 7.86%.
A number of research analysts have weighed in on the company. Goldman Sachs Group, Inc. (The) raised Banco Bradesco SA from a “neutral” rating to a “buy” rating and set a $12.40 target price on the stock in a report on Monday, September 11th. Scotiabank downgraded Banco Bradesco SA from an “outperform” rating to a “sector perform” rating in a report on Tuesday, September 5th. ValuEngine raised Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Banco Bradesco SA has an average rating of “Buy” and an average target price of $12.20.
About Banco Bradesco SA
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
Want to see what other hedge funds are holding BBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Bradesco SA (NYSE:BBD).
Receive News & Ratings for Banco Bradesco SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco SA and related companies with MarketBeat.com's FREE daily email newsletter.