Itau Unibanco Holding S.A. Purchases 3,577,428 Shares of Banco Bradesco S.A. (NYSE:BBD)

Itau Unibanco Holding S.A. grew its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,989,150 shares of the bank’s stock after buying an additional 3,577,428 shares during the period. Banco Bradesco makes up 2.2% of Itau Unibanco Holding S.A.’s holdings, making the stock its 16th biggest position. Itau Unibanco Holding S.A. owned 0.23% of Banco Bradesco worth $51,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BBD. Profund Advisors LLC grew its stake in shares of Banco Bradesco by 4.1% in the second quarter. Profund Advisors LLC now owns 227,979 shares of the bank’s stock valued at $511,000 after acquiring an additional 8,967 shares in the last quarter. Oaktree Fund Advisors LLC raised its position in shares of Banco Bradesco by 1.0% in the second quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock valued at $8,343,000 after buying an additional 35,111 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Banco Bradesco by 13.2% in the second quarter. Thrivent Financial for Lutherans now owns 247,769 shares of the bank’s stock valued at $555,000 after buying an additional 28,922 shares during the period. Sei Investments Co. grew its position in Banco Bradesco by 1.9% during the second quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock worth $48,788,000 after buying an additional 411,616 shares in the last quarter. Finally, Sagil Capital LLP increased its stake in Banco Bradesco by 24.1% during the 2nd quarter. Sagil Capital LLP now owns 8,860,397 shares of the bank’s stock worth $19,847,000 after acquiring an additional 1,720,000 shares during the period.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Price Performance

BBD stock opened at $2.63 on Friday. The company’s 50-day moving average price is $2.61 and its two-hundred day moving average price is $2.60. The firm has a market cap of $28.03 billion, a P/E 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. Banco Bradesco S.A. has a 12 month low of $2.16 and a 12 month high of $3.65.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share (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 business had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. On average, analysts anticipate that Banco Bradesco S.A. will post 0.35 earnings per share for the current fiscal year.

Banco Bradesco Dividend Announcement

The firm 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 dividend of $0.0035 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.58%. Banco Bradesco’s dividend payout ratio (DPR) is currently 13.04%.

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.