Fisher Asset Management LLC Boosts Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Fisher Asset Management LLC raised its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 77.2% during the 4th quarter, Holdings Channel reports. The firm owned 69,268,813 shares of the bank’s stock after buying an additional 30,188,950 shares during the quarter. Fisher Asset Management LLC’s holdings in Banco Bradesco were worth $242,441,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Banco Bradesco by 14.1% in the 4th quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock valued at $211,783,000 after buying an additional 7,478,762 shares during the period. Oaktree Capital Management LP lifted 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 valued at $120,157,000 after buying an additional 2,588,418 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Banco Bradesco by 51.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,204,249 shares of the bank’s stock valued at $112,715,000 after buying an additional 10,885,211 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Banco Bradesco by 2.0% in the 4th quarter. Russell Investments Group Ltd. now owns 24,275,443 shares of the bank’s stock valued at $84,964,000 after buying an additional 476,197 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Banco Bradesco by 6.6% in the 4th quarter. Sei Investments Co. now owns 20,968,881 shares of the bank’s stock valued at $73,391,000 after buying an additional 1,295,575 shares during the period.

Banco Bradesco Stock Performance

NYSE BBD remained flat at $2.39 during trading hours on Friday. The company had a trading volume of 13,149,848 shares, compared to its average volume of 15,177,030. Banco Bradesco S.A. has a 12 month low of $2.35 and a 12 month high of $3.68. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $2.61 and a 200-day moving average price of $2.92.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Thursday, May 2nd. The bank reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $9.64 billion during the quarter. Banco Bradesco had a return on equity of 9.55% and a net margin of 6.70%. Sell-side analysts anticipate that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, February 10th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.0749 per share. This is a positive change from Banco Bradesco’s previous — dividend of $0.00. This represents a yield of 6.9%. The ex-dividend date is Thursday, June 20th. Banco Bradesco’s payout ratio is 13.04%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price objective for the company in a report on Tuesday, February 20th.

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.