Baillie Gifford & Co. boosted its position in shares of Banco Bradesco SA (NYSE:BBD) by 9.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,087,746 shares of the bank’s stock after buying an additional 1,454,120 shares during the period. Baillie Gifford & Co. owned approximately 0.28% of Banco Bradesco SA worth $145,246,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Aberdeen Asset Management PLC UK boosted its stake in Banco Bradesco SA by 20.1% during the second quarter. Aberdeen Asset Management PLC UK now owns 180,676,024 shares of the bank’s stock valued at $1,535,746,000 after buying an additional 30,239,397 shares during the last quarter. AXA boosted its stake in Banco Bradesco SA by 10.0% during the second quarter. AXA now owns 51,782 shares of the bank’s stock valued at $440,000 after buying an additional 4,707 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Banco Bradesco SA by 9.4% during the second quarter. Wells Fargo & Company MN now owns 9,138,386 shares of the bank’s stock valued at $77,676,000 after buying an additional 788,338 shares during the last quarter. Franklin Resources Inc. boosted its stake in Banco Bradesco SA by 35.8% during the second quarter. Franklin Resources Inc. now owns 25,959,687 shares of the bank’s stock valued at $220,639,000 after buying an additional 6,842,060 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Banco Bradesco SA by 10.0% during the second quarter. LSV Asset Management now owns 28,600 shares of the bank’s stock valued at $243,000 after buying an additional 2,600 shares during the last quarter. 2.65% of the stock is owned by institutional investors.
A number of brokerages recently commented on BBD. Goldman Sachs Group, Inc. (The) raised Banco Bradesco SA from a “neutral” rating to a “buy” rating and set a $12.40 price target for the company in a research note on Monday, September 11th. Scotiabank downgraded Banco Bradesco SA from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, September 5th. ValuEngine upgraded Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Banco Bradesco SA has an average rating of “Buy” and a consensus target price of $12.20.
Shares of Banco Bradesco SA (NYSE BBD) traded up 2.32% during midday trading on Friday, hitting $11.49. The stock had a trading volume of 9,150,092 shares. Banco Bradesco SA has a 52-week low of $7.15 and a 52-week high of $11.50. The firm has a market cap of $69.92 billion, a price-to-earnings ratio of 12.57 and a beta of 1.75. The firm’s 50 day moving average price is $10.47 and its 200 day moving average price is $9.40.
The firm also recently declared a special dividend, which will be paid on Monday, November 13th. Stockholders of record on Wednesday, October 4th will be paid a $0.0061 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a dividend yield of 0.64%. This is a boost from Banco Bradesco SA’s previous special dividend of $0.01. Banco Bradesco SA’s payout ratio is currently 7.86%.
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About Banco Bradesco SA
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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