Amundi Pioneer Asset Management Inc. acquired a new stake in Banco Bradesco SA (NYSE:BBD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,503,051 shares of the bank’s stock, valued at approximately $25,631,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cutler Investment Counsel LLC acquired a new stake in shares of Banco Bradesco in the third quarter valued at about $131,000. Quantitative Systematic Strategies LLC acquired a new position in Banco Bradesco during the fourth quarter worth about $151,000. Advisor Partners LLC acquired a new position in Banco Bradesco during the fourth quarter worth about $161,000. Yorktown Management & Research Co Inc acquired a new position in Banco Bradesco during the third quarter worth about $266,000. Finally, Verde Servicos Internacionais S.A. acquired a new position in Banco Bradesco during the fourth quarter worth about $307,000. Hedge funds and other institutional investors own 2.88% of the company’s stock.
Banco Bradesco SA (BBD) opened at $11.94 on Monday. The stock has a market cap of $79,921.35, a PE ratio of 12.12 and a beta of 1.87. Banco Bradesco SA has a 52-week low of $7.83 and a 52-week high of $13.18.
The firm also recently announced a special dividend, which will be paid on Wednesday, May 9th. Shareholders of record on Wednesday, April 4th will be given a dividend of $0.0058 per share. The ex-dividend date is Tuesday, April 3rd. This is a boost from Banco Bradesco’s previous special dividend of $0.01. Banco Bradesco’s payout ratio is presently 7.91%.
BBD has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Wednesday, January 3rd. Citigroup upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. upgraded shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Monday, January 22nd. Finally, ValuEngine upgraded shares of Banco Bradesco from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.20.
Banco Bradesco Company Profile
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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