Massachusetts Financial Services Co. MA Grows Holdings in Banco Bradesco S.A. (NYSE:BBD)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Banco Bradesco S.A. (NYSE:BBD – Free Report) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,202,214 shares of the bank’s stock after acquiring an additional 12,236,689 shares during the period. Massachusetts Financial Services Co. MA owned 0.94% of Banco Bradesco worth $191,386,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BBD. R Squared Ltd purchased a new stake in shares of Banco Bradesco in the 4th quarter worth approximately $30,000. Traveka Wealth LLC purchased a new stake in shares of Banco Bradesco in the fourth quarter worth $31,000. Townsquare Capital LLC bought a new position in shares of Banco Bradesco during the third quarter valued at $37,000. Blue Trust Inc. raised its position in shares of Banco Bradesco by 78.2% in the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock worth $38,000 after purchasing an additional 8,801 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Banco Bradesco by 27.2% in the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank’s stock worth $48,000 after purchasing an additional 5,421 shares in the last quarter.

Banco Bradesco Stock Up 2.9 %

Shares of BBD stock opened at $2.29 on Friday. The company has a market capitalization of $24.32 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The company’s fifty day moving average price is $2.12 and its 200-day moving average price is $2.24. Banco Bradesco S.A. has a one year low of $1.84 and a one year high of $2.98.

Banco Bradesco (NYSE:BBD – Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share (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%. Sell-side analysts expect that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 7th. Shareholders of record on Wednesday, April 2nd will be paid a $0.0398 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.48 dividend on an annualized basis and a dividend yield of 20.88%. The ex-dividend date of this dividend is Wednesday, April 2nd. Banco Bradesco’s dividend payout ratio (DPR) is presently 43.33%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group cut Banco Bradesco from a “buy” rating to a “sell” rating and lowered their price objective for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th. HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a report on Monday, January 13th.

Read Our Latest Report on BBD

Banco Bradesco Company Profile

(Free Report)

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.

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