LGT Fund Management Co Ltd. Invests $2.61 Million in Banco Bradesco S.A. (NYSE:BBD)

LGT Fund Management Co Ltd. purchased a new position in Banco Bradesco S.A. (NYSE:BBD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,364,814 shares of the bank’s stock, valued at approximately $2,607,000.

Several other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund increased its holdings in shares of Banco Bradesco by 85.5% in the fourth quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank’s stock worth $7,519,000 after purchasing an additional 1,814,009 shares during the period. Blue Trust Inc. increased its holdings in shares of Banco Bradesco by 226.1% in the fourth quarter. Blue Trust Inc. now owns 36,699 shares of the bank’s stock worth $70,000 after purchasing an additional 25,445 shares during the period. Vontobel Holding Ltd. increased its stake in Banco Bradesco by 9.4% in the fourth quarter. Vontobel Holding Ltd. now owns 2,925,569 shares of the bank’s stock valued at $5,588,000 after acquiring an additional 251,998 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Banco Bradesco by 15.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 268,358 shares of the bank’s stock valued at $510,000 after acquiring an additional 36,542 shares during the last quarter. Finally, ARGA Investment Management LP increased its stake in Banco Bradesco by 215.1% in the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock valued at $158,224,000 after acquiring an additional 56,552,808 shares during the last quarter.

Banco Bradesco Stock Performance

Banco Bradesco stock opened at $1.95 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. The firm has a 50-day moving average of $2.01 and a 200-day moving average of $2.34. The firm has a market cap of $20.70 billion, a P/E ratio of 6.48, a P/E/G ratio of 0.32 and a beta of 0.94. Banco Bradesco S.A. has a 1-year low of $1.84 and a 1-year high of $2.98.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting 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 year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.0033 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, March 7th. Banco Bradesco’s dividend payout ratio is currently 6.67%.

Wall Street Analyst Weigh In

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

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.