Oaktree Fund Advisors LLC Boosts Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

Oaktree Fund Advisors LLC increased its holdings in Banco Bradesco S.A. (NYSE:BBD) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,724,611 shares of the bank’s stock after acquiring an additional 35,111 shares during the period. Banco Bradesco comprises approximately 7.8% of Oaktree Fund Advisors LLC’s portfolio, making the stock its 6th biggest holding. Oaktree Fund Advisors LLC’s holdings in Banco Bradesco were worth $8,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fisher Asset Management LLC raised its position in Banco Bradesco by 77.2% in the fourth quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock worth $242,441,000 after acquiring an additional 30,188,950 shares during the period. Wellington Management Group LLP increased its stake in shares of Banco Bradesco by 14.1% during the 4th quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock worth $211,783,000 after purchasing an additional 7,478,762 shares during the last quarter. Oaktree Capital Management LP raised its holdings in shares of Banco Bradesco by 8.2% in the 4th quarter. Oaktree Capital Management LP now owns 34,330,544 shares of the bank’s stock worth $120,157,000 after purchasing an additional 2,588,418 shares during the period. Russell Investments Group Ltd. lifted its stake in Banco Bradesco by 8.9% in the first quarter. Russell Investments Group Ltd. now owns 26,441,672 shares of the bank’s stock valued at $75,623,000 after purchasing an additional 2,166,229 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Banco Bradesco by 1.9% during the second quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock valued at $48,788,000 after purchasing an additional 411,616 shares during the period.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $2.63 on Friday. The firm has a market capitalization of $28.03 billion, a PE ratio of 11.43, a P/E/G ratio of 0.31 and a beta of 0.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $2.61 and a two-hundred day moving average price of $2.60. Banco Bradesco S.A. has a twelve month low of $2.16 and a twelve month high of $3.65.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Monday, August 5th. The bank reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The company had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Equities analysts forecast that Banco Bradesco S.A. will post 0.35 EPS for the current year.

Banco Bradesco Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be issued a $0.0035 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, September 4th. Banco Bradesco’s payout ratio is currently 13.04%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.50 to $3.20 in a research report on Monday, August 19th.

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.