Franklin Resources Inc. Trims Holdings in Banco Bradesco S.A. (NYSE:BBD)

Franklin Resources Inc. trimmed its stake in Banco Bradesco S.A. (NYSE:BBD) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,947,247 shares of the bank’s stock after selling 1,038,413 shares during the period. Franklin Resources Inc.’s holdings in Banco Bradesco were worth $167,815,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. LGT Group Foundation purchased a new stake in Banco Bradesco during the 3rd quarter worth approximately $30,000. Savvy Advisors Inc. purchased a new stake in Banco Bradesco during the 4th quarter worth approximately $35,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Banco Bradesco during the 3rd quarter worth approximately $36,000. HTLF Bank purchased a new stake in Banco Bradesco during the 4th quarter worth approximately $42,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Banco Bradesco during the 4th quarter worth approximately $46,000.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $2.56 on Thursday. Banco Bradesco S.A. has a 52 week low of $2.54 and a 52 week high of $3.68. The company’s 50 day moving average is $2.74 and its two-hundred day moving average is $3.01. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, May 2nd. The bank reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Banco Bradesco had a net margin of 6.70% and a return on equity of 9.55%. The company had revenue of $9.64 billion for the quarter. On average, analysts expect that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Wednesday, June 5th will be issued a $0.0037 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, June 5th. This represents a $0.04 annualized dividend and a dividend yield of 1.73%. Banco Bradesco’s dividend payout ratio is presently 17.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BBD. The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price objective on the stock in a research report on Tuesday, February 20th. Jefferies Financial Group downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Banco Bradesco 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.