Public Employees Retirement System of Ohio Takes $14.07 Million Position in Banco Bradesco SA $BBD

Public Employees Retirement System of Ohio acquired a new position in shares of Banco Bradesco SA (NYSE:BBD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,054,139 shares of the bank’s stock, valued at approximately $14,068,000.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after buying an additional 4,353 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Banco Bradesco by 1,276.5% in the third quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock worth $36,000 after acquiring an additional 9,842 shares in the last quarter. Global Wealth Strategies & Associates acquired a new stake in Banco Bradesco in the second quarter valued at approximately $38,000. Wayfinding Financial LLC acquired a new stake in Banco Bradesco in the second quarter valued at approximately $40,000. Finally, Ballentine Partners LLC bought a new stake in shares of Banco Bradesco during the fourth quarter valued at approximately $41,000.

Banco Bradesco Price Performance

BBD stock opened at $3.26 on Monday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The business has a 50-day simple moving average of $3.42 and a two-hundred day simple moving average of $3.62. The company has a market capitalization of $34.55 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 0.40 and a beta of 0.53. Banco Bradesco SA has a 52-week low of $2.96 and a 52-week high of $4.30.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. The firm had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Research analysts expect that Banco Bradesco SA will post 0.5 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 3rd will be paid a $0.0037 dividend. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, September 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 7.14%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

About Banco Bradesco

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.