Wellington Management Group LLP Buys 6,171,193 Shares of Banco Bradesco S.A. (NYSE:BBD)

Wellington Management Group LLP increased its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 15.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,046,779 shares of the bank’s stock after buying an additional 6,171,193 shares during the quarter. Wellington Management Group LLP’s holdings in Banco Bradesco were worth $125,144,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. raised its stake in Banco Bradesco by 99.9% during the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after acquiring an additional 5,623 shares in the last quarter. Townsquare Capital LLC acquired a new stake in shares of Banco Bradesco during the 3rd quarter worth about $37,000. Insigneo Advisory Services LLC bought a new position in Banco Bradesco during the 2nd quarter valued at about $43,000. Mayport LLC acquired a new position in Banco Bradesco in the second quarter valued at about $47,000. Finally, SG Americas Securities LLC bought a new stake in Banco Bradesco during the second quarter worth about $49,000.

Banco Bradesco Price Performance

Shares of BBD stock opened at $2.01 on Tuesday. Banco Bradesco S.A. has a 1 year low of $2.01 and a 1 year high of $3.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $2.45 and its 200-day moving average is $2.49. The firm has a market capitalization of $21.42 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 0.24 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Sell-side analysts forecast 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 monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.0033 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.97%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 11.54%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $2.50 to $3.20 in a report on Monday, August 19th. JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

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.