PNC Financial Services Group Inc. Grows Holdings in Banco Bradesco S.A. (NYSE:BBD)

PNC Financial Services Group Inc. raised its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,322 shares of the bank’s stock after purchasing an additional 10,938 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Banco Bradesco were worth $409,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Atria Investments Inc raised its stake in Banco Bradesco by 24.3% in the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after buying an additional 8,641 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Banco Bradesco by 12.0% in the 3rd quarter. Natixis Advisors LLC now owns 262,107 shares of the bank’s stock valued at $697,000 after acquiring an additional 27,993 shares during the period. Caprock Group LLC raised its position in shares of Banco Bradesco by 78.5% in the 3rd quarter. Caprock Group LLC now owns 25,456 shares of the bank’s stock worth $69,000 after acquiring an additional 11,192 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Banco Bradesco during the 3rd quarter worth $1,941,000. Finally, West Family Investments Inc. lifted its stake in shares of Banco Bradesco by 176.6% during the 3rd quarter. West Family Investments Inc. now owns 75,525 shares of the bank’s stock worth $201,000 after purchasing an additional 48,224 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBD. 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 report on Monday, January 13th. The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and cut their price objective for the company from $2.40 to $2.00 in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th.

Banco Bradesco Stock Performance

NYSE:BBD opened at $2.22 on Friday. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.98. The company has a market cap of $23.57 billion, a P/E ratio of 7.38, a P/E/G ratio of 0.32 and a beta of 0.94. 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 company’s 50-day moving average price is $2.06 and its 200-day moving average price is $2.28.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, sell-side analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 9th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.0033 per share. The ex-dividend date is Thursday, April 3rd. This is an increase 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 1.80%. Banco Bradesco’s payout ratio is currently 6.67%.

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.