Franklin Resources Inc. lowered its position in Banco Bradesco SA (NYSE:BBD) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,618,887 shares of the bank’s stock after selling 5,045,900 shares during the quarter. Franklin Resources Inc. owned approximately 0.31% of Banco Bradesco worth $211,133,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc. raised its holdings in shares of Banco Bradesco by 24.1% in the 3rd quarter. TD Asset Management Inc. now owns 68,640 shares of the bank’s stock worth $760,000 after buying an additional 13,347 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Banco Bradesco by 68.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 254,701 shares of the bank’s stock worth $2,820,000 after buying an additional 103,699 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Banco Bradesco by 3.0% in the 4th quarter. Lazard Asset Management LLC now owns 4,490,972 shares of the bank’s stock worth $45,986,000 after buying an additional 128,795 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Banco Bradesco by 631.0% in the 3rd quarter. Quantbot Technologies LP now owns 249,523 shares of the bank’s stock worth $2,762,000 after buying an additional 215,388 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Banco Bradesco by 17.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 75,591 shares of the bank’s stock worth $643,000 after acquiring an additional 11,473 shares during the last quarter. Institutional investors own 2.88% of the company’s stock.
BBD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Monday, January 22nd. Zacks Investment Research lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine upgraded Banco Bradesco from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, Citigroup upgraded Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $12.20.
Banco Bradesco stock traded down $0.14 during mid-day trading on Monday, hitting $11.45. The stock had a trading volume of 6,539,569 shares, compared to its average volume of 8,996,836. The firm has a market cap of $77,578.60, a P/E ratio of 15.29 and a beta of 1.87. Banco Bradesco SA has a one year low of $7.83 and a one year high of $13.18.
Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Thursday, February 1st. The bank reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The business had revenue of $9.90 billion for the quarter, compared to the consensus estimate of $8.20 billion. Banco Bradesco had a return on equity of 17.44% and a net margin of 9.87%. equities analysts forecast that Banco Bradesco SA will post 0.95 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which will be paid on Wednesday, May 9th. Investors of record on Wednesday, April 4th will be paid a dividend of $0.0058 per share. The ex-dividend date is Tuesday, April 3rd. This is an increase from Banco Bradesco’s previous special dividend of $0.01. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.91%.
ILLEGAL ACTIVITY WARNING: “Franklin Resources Inc. Sells 5,045,900 Shares of Banco Bradesco SA (NYSE:BBD)” was first reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.thelincolnianonline.com/2018/03/19/banco-bradesco-sa-bbd-position-trimmed-by-franklin-resources-inc.html.
Banco Bradesco Profile
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.
Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.