Raymond James Financial Inc. Makes New Investment in Banco Bradesco S.A. (NYSE:BBD)

Raymond James Financial Inc. acquired a new stake in Banco Bradesco S.A. (NYSE:BBD) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,686,735 shares of the bank’s stock, valued at approximately $3,222,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC raised its stake in shares of Banco Bradesco by 23.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after purchasing an additional 4,260 shares in the last quarter. Eagle Bay Advisors LLC increased its holdings in Banco Bradesco by 37.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank’s stock worth $54,000 after buying an additional 7,400 shares during the last quarter. Blue Trust Inc. raised its position in Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock worth $38,000 after acquiring an additional 8,801 shares in the last quarter. Townsquare Capital LLC acquired a new stake in Banco Bradesco in the third quarter valued at $37,000. Finally, R Squared Ltd bought a new position in shares of Banco Bradesco in the 4th quarter valued at about $30,000.

Analyst Ratings Changes

Several brokerages recently issued reports on BBD. The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and cut their target price for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a research note on Monday, January 13th.

Banco Bradesco Price Performance

NYSE:BBD opened at $2.30 on Friday. The company has a market cap of $24.42 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.32 and a beta of 0.94. The firm’s fifty day moving average price is $2.09 and its two-hundred day moving average price is $2.26. Banco Bradesco S.A. has a one year low of $1.84 and a one year high of $2.98. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Equities analysts expect that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 7th. Stockholders of record on Wednesday, April 2nd will be given a $0.0398 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.48 annualized dividend and a dividend yield of 20.78%. Banco Bradesco’s dividend payout ratio is presently 6.67%.

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.