Russell Investments Group Ltd. Acquires 476,197 Shares of Banco Bradesco S.A. (NYSE:BBD)

Russell Investments Group Ltd. raised its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,275,443 shares of the bank’s stock after buying an additional 476,197 shares during the period. Russell Investments Group Ltd. owned about 0.23% of Banco Bradesco worth $84,964,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LGT Group Foundation purchased a new stake in Banco Bradesco during the 3rd quarter valued at $30,000. HTLF Bank purchased a new stake in Banco Bradesco during the 4th quarter valued at $42,000. TIAA Trust National Association purchased a new stake in Banco Bradesco during the 3rd quarter valued at $35,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Banco Bradesco during the 3rd quarter valued at $36,000. Finally, Lindbrook Capital LLC boosted its position in Banco Bradesco by 120.5% during the 4th quarter. Lindbrook Capital LLC now owns 13,510 shares of the bank’s stock valued at $47,000 after buying an additional 7,382 shares during the period.

Banco Bradesco Trading Up 2.6 %

Shares of NYSE:BBD traded up $0.07 on Friday, hitting $2.72. The company had a trading volume of 13,985,243 shares, compared to its average volume of 15,000,805. The firm’s 50-day simple moving average is $2.80 and its two-hundred day simple moving average is $3.03. Banco Bradesco S.A. has a 1 year low of $2.60 and a 1 year high of $3.68. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 6th will be given a $0.0036 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 1.59%. Banco Bradesco’s dividend payout ratio is 14.29%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target for the company in a research report on Tuesday, February 20th. HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Jefferies Financial Group cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Banco Bradesco Company 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.