Banco Bradesco S.A. (NYSE:BBD) Stake Boosted by Citigroup Inc.

Citigroup Inc. increased its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 1,497.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,095,475 shares of the bank’s stock after acquiring an additional 5,713,831 shares during the period. Citigroup Inc.’s holdings in Banco Bradesco were worth $16,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BBD. Silvercrest Asset Management Group LLC lifted its holdings in shares of Banco Bradesco by 27.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 21,141 shares of the bank’s stock valued at $60,000 after buying an additional 4,550 shares during the last quarter. Inspire Advisors LLC grew its position in Banco Bradesco by 9.5% in the second quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after acquiring an additional 4,737 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after purchasing an additional 5,623 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Banco Bradesco by 1.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock valued at $1,605,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its stake in shares of Banco Bradesco by 11.9% in the 2nd quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock valued at $173,000 after purchasing an additional 8,165 shares during the last quarter.

Banco Bradesco Trading Down 4.6 %

Banco Bradesco stock opened at $2.26 on Thursday. The firm has a fifty day moving average price of $2.54 and a two-hundred day moving average price of $2.52. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. On average, research analysts anticipate that Banco Bradesco S.A. will post 0.34 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is 11.54%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BBD. The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2.50 to $3.20 in a research report on Monday, August 19th. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday.

Banco Bradesco 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.