Franklin Resources Inc. Grows Holdings in Banco Bradesco SA $BBD

Franklin Resources Inc. boosted its stake in Banco Bradesco SA (NYSE:BBD) by 2,469.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 47,947,074 shares of the bank’s stock after purchasing an additional 46,080,856 shares during the period. Franklin Resources Inc.’s holdings in Banco Bradesco were worth $159,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of Banco Bradesco by 28.4% in the 1st quarter. Millennium Management LLC now owns 6,834,192 shares of the bank’s stock valued at $15,240,000 after purchasing an additional 1,510,481 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Banco Bradesco by 3,749.8% in the 1st quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank’s stock valued at $86,000 after acquiring an additional 37,610 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Banco Bradesco by 116.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after acquiring an additional 17,853,712 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Banco Bradesco in the 2nd quarter worth approximately $62,000. Finally, JPMorgan Chase & Co. increased its position in Banco Bradesco by 22.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 964,959 shares of the bank’s stock worth $2,982,000 after buying an additional 174,126 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on BBD shares. Itau BBA Securities reissued an “outperform” rating on shares of Banco Bradesco in a report on Friday, February 27th. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Banco Bradesco currently has a consensus rating of “Buy”.

Banco Bradesco Stock Down 0.8%

BBD stock opened at $3.31 on Thursday. The firm has a market capitalization of $35.02 billion, a PE ratio of 8.47, a PEG ratio of 0.41 and a beta of 0.53. 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 $2.73 and a 1-year high of $4.30. The business’s 50 day simple moving average is $3.71 and its 200 day simple moving average is $3.69.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%.The company had revenue of $1.50 billion for the quarter. As a group, research analysts anticipate that Banco Bradesco SA will post 0.5 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be paid a $0.0039 dividend. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, June 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is 7.69%.

Banco Bradesco Company Profile

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.