Bank of America Corp DE Acquires 21,920,074 Shares of Banco Bradesco SA $BBD

Bank of America Corp DE increased its holdings in Banco Bradesco SA (NYSE:BBD) by 355.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,078,599 shares of the bank’s stock after buying an additional 21,920,074 shares during the quarter. Bank of America Corp DE’s holdings in Banco Bradesco were worth $102,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC raised its holdings in shares of Banco Bradesco by 11.4% in the 4th quarter. Inspire Investing LLC now owns 25,331 shares of the bank’s stock worth $84,000 after buying an additional 2,597 shares in the last quarter. Compound Planning Inc. lifted its position in shares of Banco Bradesco by 2.1% during the 1st quarter. Compound Planning Inc. now owns 158,680 shares of the bank’s stock worth $579,000 after buying an additional 3,247 shares during the period. Corient Private Wealth LLC boosted its stake in Banco Bradesco by 8.8% in the 2nd quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank’s stock valued at $130,000 after buying an additional 3,402 shares in the last quarter. Cetera Investment Advisers boosted its stake in Banco Bradesco by 16.7% in the 1st quarter. Cetera Investment Advisers now owns 24,543 shares of the bank’s stock valued at $90,000 after buying an additional 3,519 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Banco Bradesco by 59.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 9,784 shares of the bank’s stock valued at $33,000 after acquiring an additional 3,648 shares during the period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock opened at $3.37 on Friday. The stock has a market capitalization of $35.66 billion, a price-to-earnings ratio of 8.01, a P/E/G ratio of 0.42 and a beta of 0.53. The firm’s 50-day moving average price is $3.49 and its two-hundred day moving average price is $3.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. Banco Bradesco SA has a 1-year low of $2.84 and a 1-year high of $4.30.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. The business had revenue of $6.77 billion for the quarter. Banco Bradesco had a return on equity of 14.97% and a net margin of 10.55%. On average, equities analysts predict that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be paid a $0.0037 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s payout ratio is currently 7.69%.

About Banco Bradesco

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.