Carrhae Capital LLP Acquires Shares of 16,185,404 Banco Bradesco SA $BBD

Carrhae Capital LLP bought a new position in Banco Bradesco SA (NYSE:BBD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,185,404 shares of the bank’s stock, valued at approximately $53,897,000. Banco Bradesco makes up about 2.0% of Carrhae Capital LLP’s holdings, making the stock its 14th biggest holding.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC increased its stake in shares of Banco Bradesco by 28.4% in the first quarter. Millennium Management LLC now owns 6,834,192 shares of the bank’s stock worth $15,240,000 after acquiring an additional 1,510,481 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Banco Bradesco by 3,749.8% during the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank’s stock valued at $86,000 after purchasing an additional 37,610 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after purchasing an additional 17,853,712 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Banco Bradesco in the second quarter valued at about $62,000. Finally, JPMorgan Chase & Co. grew its stake in Banco Bradesco by 22.0% in the second quarter. JPMorgan Chase & Co. now owns 964,959 shares of the bank’s stock valued at $2,982,000 after purchasing an additional 174,126 shares in the last quarter.

Banco Bradesco Price Performance

NYSE BBD opened at $3.48 on Friday. Banco Bradesco SA has a fifty-two week low of $2.66 and a fifty-two week high of $4.30. The stock’s 50-day moving average is $3.74 and its two-hundred day moving average is $3.70. The firm has a market cap of $36.82 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 0.44 and a beta of 0.56. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $1.50 billion during the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%. On average, analysts anticipate that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.0039 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s dividend payout ratio (DPR) is currently 7.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BBD shares. Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Itau BBA Securities reissued an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.