4,484,271 Shares in Banco Bradesco SA $BBD Acquired by Carrhae Capital LLP

Carrhae Capital LLP bought a new stake in shares of Banco Bradesco SA (NYSE:BBD) in the 2nd quarter, HoldingsChannel reports. The firm bought 4,484,271 shares of the bank’s stock, valued at approximately $15,560,000. Banco Bradesco accounts for about 0.4% of Carrhae Capital LLP’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBD. Orbis Allan Gray Ltd bought a new position in shares of Banco Bradesco in the 2nd quarter worth $250,398,000. Franklin Resources Inc. lifted its holdings in shares of Banco Bradesco by 2,469.2% during the 4th quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock worth $159,664,000 after acquiring an additional 46,080,856 shares during the last quarter. Bank of America Corp DE grew its position in Banco Bradesco by 355.9% in the first quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock worth $102,487,000 after acquiring an additional 21,920,074 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after acquiring an additional 17,853,712 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Banco Bradesco by 25.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock valued at $273,604,000 after acquiring an additional 16,908,425 shares during the last quarter.

Banco Bradesco Trading Up 2.2%

Shares of BBD traded up $0.07 during mid-day trading on Tuesday, reaching $3.54. The company’s stock had a trading volume of 31,126,665 shares, compared to its average volume of 35,333,324. The stock has a market cap of $37.57 billion, a PE ratio of 8.44, a P/E/G ratio of 0.42 and a beta of 0.52. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. Banco Bradesco SA has a 52 week low of $2.98 and a 52 week high of $4.30. The company’s fifty day moving average price is $3.42 and its two-hundred day moving average price is $3.59.

Banco Bradesco (NYSE:BBD) last released its earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. The company had revenue of $6.77 billion for the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. On average, analysts predict 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, October 8th. Stockholders of record on Thursday, September 3rd will be paid a $0.0037 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. Banco Bradesco’s dividend payout ratio is presently 7.14%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Banco Bradesco has an average rating of “Moderate 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.