Franklin Resources Inc. Acquires 821,239 Shares of Banco Bradesco S.A. (NYSE:BBD)

Franklin Resources Inc. increased its holdings in Banco Bradesco S.A. (NYSE:BBD) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,810,825 shares of the bank’s stock after acquiring an additional 821,239 shares during the period. Franklin Resources Inc.’s holdings in Banco Bradesco were worth $87,499,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. New York State Common Retirement Fund raised its stake in shares of Banco Bradesco by 85.5% in the fourth quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank’s stock worth $7,519,000 after purchasing an additional 1,814,009 shares during the last quarter. State Street Corp grew its holdings in Banco Bradesco by 71.0% during the third quarter. State Street Corp now owns 15,778,647 shares of the bank’s stock worth $42,715,000 after buying an additional 6,551,698 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in Banco Bradesco during the fourth quarter worth $66,000. Banco Santander S.A. raised its position in Banco Bradesco by 402.4% in the 4th quarter. Banco Santander S.A. now owns 1,802,819 shares of the bank’s stock valued at $3,443,000 after buying an additional 1,443,986 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Banco Bradesco by 152.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank’s stock valued at $731,000 after acquiring an additional 166,008 shares in the last quarter.

Banco Bradesco Stock Down 1.8 %

Shares of NYSE:BBD opened at $2.21 on Thursday. Banco Bradesco S.A. has a 1 year low of $1.84 and a 1 year high of $2.98. The company has a market capitalization of $23.52 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The business has a fifty day moving average price of $2.11 and a two-hundred day moving average price of $2.24. 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 issued its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business 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 dividend of $0.0398 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.48 dividend on an annualized basis and a dividend yield of 21.58%. The ex-dividend date of this dividend is Wednesday, April 2nd. Banco Bradesco’s dividend payout ratio is currently 43.33%.

Wall Street Analysts Forecast Growth

BBD has been the subject of several recent analyst reports. The Goldman Sachs Group lowered shares of Banco Bradesco from a “buy” rating to a “sell” rating and reduced their target price for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research report on Monday, January 13th.

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.