First Trust Advisors LP Invests $1.61 Million in Banco Bradesco SA (BBD) Stock

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.

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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.

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Institutional Ownership by Quarter for Banco Bradesco SA (NYSE:BBD)

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