iA Global Asset Management Inc. Boosts Stake in Banco Bradesco S.A. (NYSE:BBD)

iA Global Asset Management Inc. lifted its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 14.4% during the 4th quarter, HoldingsChannel reports. The fund owned 173,553 shares of the bank’s stock after purchasing an additional 21,844 shares during the period. iA Global Asset Management Inc.’s holdings in Banco Bradesco were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BBD. Atria Investments Inc boosted its stake in shares of Banco Bradesco by 24.3% during the 3rd quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after acquiring an additional 8,641 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Banco Bradesco by 12.0% during the 3rd quarter. Natixis Advisors LLC now owns 262,107 shares of the bank’s stock worth $697,000 after acquiring an additional 27,993 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Banco Bradesco by 78.5% during the 3rd quarter. Caprock Group LLC now owns 25,456 shares of the bank’s stock worth $69,000 after acquiring an additional 11,192 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Banco Bradesco by 170.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after acquiring an additional 55,444,555 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Banco Bradesco by 1,497.2% during the 3rd quarter. Citigroup Inc. now owns 6,095,475 shares of the bank’s stock worth $16,214,000 after acquiring an additional 5,713,831 shares in the last quarter.

Wall Street Analysts Forecast Growth

BBD has been the subject of several research analyst reports. The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and reduced their price target for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a research report on Monday, January 13th.

Banco Bradesco Stock Up 1.1 %

BBD stock opened at $2.24 on Friday. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.32 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $2.98. The firm has a 50-day moving average of $2.06 and a two-hundred day moving average of $2.27.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, analysts forecast that Banco Bradesco S.A. 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 Friday, May 9th. Shareholders of record on Thursday, April 3rd will be issued a $0.0033 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Thursday, April 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 1.79%. Banco Bradesco’s dividend payout ratio is presently 6.67%.

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.