Banco Bradesco S.A. (NYSE:BBD) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 34.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,880,402 shares of the bank’s stock after purchasing an additional 6,075,854 shares during the period. Russell Investments Group Ltd. owned about 0.22% of Banco Bradesco worth $82,626,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Causeway Capital Management LLC lifted its stake in Banco Bradesco by 537.7% during the first quarter. Causeway Capital Management LLC now owns 55,569,677 shares of the bank’s stock worth $145,593,000 after purchasing an additional 46,855,765 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Banco Bradesco by 186.5% during the 1st quarter. Wellington Management Group LLP now owns 53,049,024 shares of the bank’s stock valued at $138,988,000 after buying an additional 34,535,929 shares during the last quarter. Perpetual Ltd bought a new position in Banco Bradesco in the first quarter worth about $73,056,000. BlackRock Inc. boosted its stake in Banco Bradesco by 48.4% in the first quarter. BlackRock Inc. now owns 72,108,265 shares of the bank’s stock valued at $188,924,000 after acquiring an additional 23,517,670 shares during the period. Finally, Harding Loevner LP grew its holdings in shares of Banco Bradesco by 144.1% during the first quarter. Harding Loevner LP now owns 24,233,151 shares of the bank’s stock valued at $63,491,000 after purchasing an additional 14,304,108 shares during the last quarter. 1.84% of the stock is owned by institutional investors.

Banco Bradesco Trading Up 2.6 %

Banco Bradesco stock opened at $3.20 on Friday. Banco Bradesco S.A. has a 52-week low of $2.34 and a 52-week high of $3.68. The company has a quick ratio of 0.72, a current ratio of 0.97 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $34.11 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.61 and a beta of 0.93. The firm has a 50-day moving average price of $2.93 and a two-hundred day moving average price of $3.14.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, December 5th will be given a dividend of $0.0039 per share. The ex-dividend date of this dividend is Monday, December 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.05 annualized dividend and a dividend yield of 1.46%. Banco Bradesco’s payout ratio is currently 14.29%.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on Banco Bradesco in a research note on Monday, October 16th. They set a “buy” rating and a $3.50 price objective for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.07.

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; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.