Healthcare of Ontario Pension Plan Trust Fund Makes New $7.18 Million Investment in Banco Bradesco S.A. (NYSE:BBD)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Banco Bradesco S.A. (NYSE:BBD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,700,000 shares of the bank’s stock, valued at approximately $7,182,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Townsquare Capital LLC bought a new stake in Banco Bradesco during the 3rd quarter worth approximately $37,000. Dynamic Technology Lab Private Ltd raised its position in Banco Bradesco by 907.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 297,687 shares of the bank’s stock valued at $792,000 after buying an additional 268,128 shares during the last quarter. Fisher Asset Management LLC raised its position in Banco Bradesco by 19.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock valued at $201,716,000 after buying an additional 12,228,662 shares during the last quarter. Citigroup Inc. lifted its stake in Banco Bradesco by 1,497.2% during the 3rd quarter. Citigroup Inc. now owns 6,095,475 shares of the bank’s stock valued at $16,214,000 after acquiring an additional 5,713,831 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Banco Bradesco by 170.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after acquiring an additional 55,444,555 shares in the last quarter.

Banco Bradesco Stock Down 5.8 %

NYSE BBD opened at $2.13 on Friday. The business’s fifty day moving average is $2.52 and its 200-day moving average is $2.52. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a one year low of $2.02 and a one year high of $3.65.

Banco Bradesco (NYSE:BBD) last released its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. As a group, equities research analysts anticipate that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.0033 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is currently 11.54%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BBD. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group upgraded 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 research note on Monday, August 19th.

About Banco Bradesco

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.