JPMorgan Chase & Co. Acquires 5,180,038 Shares of Banco Bradesco SA $BBD

JPMorgan Chase & Co. grew its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 536.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,144,997 shares of the bank’s stock after acquiring an additional 5,180,038 shares during the quarter. JPMorgan Chase & Co.’s holdings in Banco Bradesco were worth $20,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBD. Corient Private Wealth LLC increased its stake in Banco Bradesco by 8.8% during the second quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank’s stock worth $130,000 after acquiring an additional 3,402 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in Banco Bradesco by 1.6% during the third quarter. Orion Porfolio Solutions LLC now owns 230,065 shares of the bank’s stock valued at $778,000 after purchasing an additional 3,716 shares during the period. PDS Planning Inc lifted its stake in shares of Banco Bradesco by 11.1% in the 3rd quarter. PDS Planning Inc now owns 37,354 shares of the bank’s stock valued at $126,000 after purchasing an additional 3,736 shares during the last quarter. Gould Asset Management LLC CA lifted its stake in shares of Banco Bradesco by 5.8% in the 3rd quarter. Gould Asset Management LLC CA now owns 76,976 shares of the bank’s stock valued at $260,000 after purchasing an additional 4,200 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after purchasing an additional 4,353 shares during the period.

Banco Bradesco Stock Down 1.3%

Banco Bradesco stock opened at $3.55 on Wednesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.45 and a quick ratio of 1.12. Banco Bradesco SA has a 1-year low of $1.98 and a 1-year high of $4.28. The company’s 50-day moving average is $3.87 and its 200 day moving average is $3.55.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Friday, February 6th. The bank reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.68 billion. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%. Equities research analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Investors of record on Monday, April 6th will be issued a dividend of $0.0037 per share. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, April 6th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Itau BBA Securities reissued an “outperform” rating on shares of Banco Bradesco in a research report on Friday, February 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Banco Bradesco Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.