Paloma Partners Management Co raised its position in Banco Bradesco SA (NYSE:BBD) by 190.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,831 shares of the bank’s stock after buying an additional 22,190 shares during the period. Paloma Partners Management Co’s holdings in Banco Bradesco were worth $346,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of BBD. Signaturefd LLC purchased a new position in Banco Bradesco in the 4th quarter valued at about $109,000. Quantitative Systematic Strategies LLC purchased a new position in Banco Bradesco in the 4th quarter valued at about $151,000. Premia Global Advisors LLC acquired a new stake in shares of Banco Bradesco in the 4th quarter valued at about $155,000. Advisor Partners LLC acquired a new stake in shares of Banco Bradesco in the 4th quarter valued at about $161,000. Finally, HBK Investments L P acquired a new stake in shares of Banco Bradesco in the 4th quarter valued at about $198,000. 2.88% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on BBD shares. Zacks Investment Research lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Citigroup upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. JPMorgan Chase & Co. upgraded shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Monday, January 22nd. Finally, ValuEngine upgraded shares of Banco Bradesco from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Banco Bradesco presently has an average rating of “Buy” and a consensus target price of $12.20.
Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, February 1st. The bank reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. Banco Bradesco had a net margin of 9.87% and a return on equity of 17.44%. The company had revenue of $9.90 billion for the quarter, compared to analyst estimates of $8.20 billion. research analysts expect that Banco Bradesco SA will post 0.95 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Wednesday, April 4th will be paid a $0.0058 dividend. The ex-dividend date of this dividend is Tuesday, April 3rd. This is a positive change from Banco Bradesco’s previous special dividend of $0.01. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.91%.
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About Banco Bradesco
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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