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

Franklin Resources Inc. boosted its holdings in shares of 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 quarter. Franklin Resources Inc. owned 0.43% of Banco Bradesco worth $87,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in Banco Bradesco in the fourth quarter valued at $30,000. Traveka Wealth LLC bought a new position in shares of Banco Bradesco during the fourth quarter worth about $31,000. Townsquare Capital LLC acquired a new position in shares of Banco Bradesco in the third quarter worth approximately $37,000. Blue Trust Inc. increased its position in Banco Bradesco by 78.2% during the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock valued at $38,000 after purchasing an additional 8,801 shares during the period. Finally, HighTower Advisors LLC raised its holdings in Banco Bradesco by 27.2% during the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank’s stock worth $48,000 after purchasing an additional 5,421 shares during the last quarter.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $2.21 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. Banco Bradesco S.A. has a 52 week low of $1.84 and a 52 week high of $2.98. The firm has a 50 day moving average of $2.11 and a 200-day moving average of $2.24. The company has a market cap of $23.52 billion, a price-to-earnings ratio of 7.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

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

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 7th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.0398 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, April 2nd. This represents a $0.48 annualized dividend and a dividend yield of 21.58%. Banco Bradesco’s payout ratio is currently 43.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BBD shares. The Goldman Sachs Group lowered shares of Banco Bradesco from a “buy” rating to a “sell” rating and reduced their price objective 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 target for the company in a 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.